The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cleveland-Cliffs Inc shares valued at $18,283 were sold by Bloom Ron A. on Nov 20 ’24. At $11.77 per share, Bloom Ron A. sold 1,554 shares. The insider’s holdings dropped to 64,024 shares worth approximately $0.7 million following the completion of this transaction.
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Also, BALDWIN JOHN T purchased 8,000 shares, netting a total of over 116,240 in proceeds. Following the buying of shares at $14.53 each, the insider now holds 129,227 shares.
Before that, Taylor Douglas C had sold 36,000 shares from its account. In a trade valued at $535,223, the Director traded Cleveland-Cliffs Inc shares for $14.87 each. Upon closing the transaction, the insider’s holdings decreased to 36,000 shares, worth approximately $1.1 million.
As published in their initiating research note from Goldman on December 02, 2024, Cleveland-Cliffs Inc [CLF] has been a Buy and the price target has been revised to $16. Analysts at Seaport Research Partners upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late August. As of June 11, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for CLF. Earlier on May 20, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for CLF stock.
Analyzing CLF Stock Performance
During the last five days, there has been a drop of approximately -9.12%. Over the course of the year, Cleveland-Cliffs Inc shares have dropped approximately -46.33%. Shares of the company reached a 52-week high of $22.97 on 04/04/24 and a 52-week low of $10.21 on 09/11/24. A 50-day SMA is recorded $12.62, while a 200-day SMA reached $15.46. Nevertheless, trading volume fell to 27.47 million shares from 12.15 million shares the previous day.
Support And Resistance Levels for Cleveland-Cliffs Inc (CLF)
According to the 24-hour chart, there is a support level at 10.63, which, if violated, would cause prices to drop to 10.29. In the upper region, resistance lies at 11.44. The next price resistance is at 11.91. RSI (Relative Strength Index) is 37.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 92.24%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
