Owens Corning’s recently made public that its President, Roofing Smith Gunner unloaded Company’s shares for reported $3.34 million on Dec 13 ’24. In the deal valued at $191.19 per share,17,450 shares were sold. As a result of this transaction, Smith Gunner now holds 18,866 shares worth roughly $3.46 million.
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Then, Smith Gunner bought 17,450 shares, generating $3,336,250 in total proceeds.
Before that, Mendez-Andino Jose sold 2,593 shares. Owens Corning shares valued at $501,694 were divested by the EVP, Chief R&D Officer at a price of $193.48 per share. As a result of the transaction, Mendez-Andino Jose now holds 12,304 shares, worth roughly $2.25 million.
Wells Fargo upgraded its Owens Corning [OC] rating to an Overweight from a an Equal weight in a research note published on December 17, 2024; the price target was increased to $225 from $195. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in mid December from “an Equal weight” to “an Overweight”. Citigroup also remained covering OC and has increased its forecast on July 11, 2024 with a “Buy” recommendation from previously “Neutral” rating.
Price Performance Review of OC
On Tuesday, Owens Corning [NYSE:OC] saw its stock fall -1.11% to $183.21. Over the last five days, the stock has lost -6.96%. Owens Corning shares have risen nearly 23.60% since the year began. Nevertheless, the stocks have risen 20.19% over the past one year. While a 52-week high of $214.53 was reached on 11/25/24, a 52-week low of $138.70 was recorded on 02/20/24. SMA at 50 days reached $190.94, while 200 days put it at $174.96.
Levels Of Support And Resistance For OC Stock
The 24-hour chart illustrates a support level at 181.57, which if violated will result in even more drops to 179.92. On the upside, there is a resistance level at 185.38. A further resistance level may holdings at 187.54. The Relative Strength Index (RSI) on the 14-day chart is 34.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -11.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.10%. Stochastics %K at 3.78% indicates the stock is a buying.
How much short interest is there in Owens Corning?
A steep rise in short interest was recorded in Owens Corning stocks on 2024-11-29, dropping by 87624.0 shares to a total of 1.48 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 1.57 million shares. There was a decline of -5.92%, which implies that there is a negative sentiment for the stock.
