Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eastman Chemical Co shares valued at $1,919,190 were sold by Costa Mark J on Nov 29 ’24. At $105.00 per share, Costa Mark J sold 18,278 shares. The insider’s holdings dropped to 395,699 shares worth approximately $35.62 million following the completion of this transaction.
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Also, Holt Adrian James sold 3,683 shares, netting a total of over 386,273 in proceeds. Following the sale of shares at $104.88 each, the insider now holds 0 shares.
Before that, Holt Adrian James had added 3,683 shares to its account. In a trade valued at $386,273, the Officer bought Eastman Chemical Co shares for $104.88 each.
As published in a research note from Citigroup on December 18, 2024, Eastman Chemical Co [EMN] has been rated down from a Buy to a Neutral and the price target has been revised to $104 from $118. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late November. As of October 16, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for EMN. Earlier on May 23, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for EMN stock which previously was a “a Neutral”.
Analyzing EMN Stock Performance
During the last five days, there has been a drop of approximately -9.74%. Over the course of the year, Eastman Chemical Co shares have jumped approximately 0.23%. Shares of the company reached a 52-week high of $114.50 on 09/27/24 and a 52-week low of $80.71 on 02/02/24. A 50-day SMA is recorded $103.16, while a 200-day SMA reached $100.41. Nevertheless, trading volume fell to 1.16 million shares from 1.28 million shares the previous day.
Support And Resistance Levels for Eastman Chemical Co (EMN)
According to the 24-hour chart, there is a support level at 89.26, which, if violated, would cause prices to drop to 88.50. In the upper region, resistance lies at 91.53. The next price resistance is at 93.04. RSI (Relative Strength Index) is 18.87 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.57, which suggests the price will decrease in the coming days. Percent R is at 99.80%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
