In a filing, ArcBest Corp revealed its Director Philip Craig E unloaded Company’s shares for reported $0.43 million on Nov 22 ’24. In the deal valued at $109.91 per share,3,900 shares were sold. As a result of this transaction, Philip Craig E now holds 23,250 shares worth roughly $2.19 million.
Then, Philip Craig E bought 3,900 shares, generating $428,668 in total proceeds.
Before that, Newcity Michael E sold 10,443 shares. ArcBest Corp shares valued at $1,259,410 were divested by the SVP – Chf Innovation Officr(1) at a price of $120.60 per share. As a result of the transaction, Newcity Michael E now holds 5,051 shares, worth roughly $0.48 million.
TD Cowen downgraded its ArcBest Corp [ARCB] rating to a Hold from a a Buy in a research note published on October 14, 2024; the price target was decreased to $114 from $131. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early October with a ‘”a Neutral”‘ rating. Wolfe Research also remained covering ARCB and has decreased its forecast on October 09, 2024 with a “Peer perform” recommendation from previously “an Outperform” rating. TD Cowen maintained its rating on September 05, 2024. It rated ARCB as “a Buy”.
Price Performance Review of ARCB
On Friday, ArcBest Corp [NASDAQ:ARCB] saw its stock fall -3.54% to $94.13. Over the last five days, the stock has lost -13.30%. ArcBest Corp shares have fallen nearly -21.70% since the year began. Nevertheless, the stocks have fallen -19.75% over the past one year. While a 52-week high of $153.60 was reached on 04/08/24, a 52-week low of $94.76 was recorded on 12/20/24. SMA at 50 days reached $107.78, while 200 days put it at $114.16.
Levels Of Support And Resistance For ARCB Stock
The 24-hour chart illustrates a support level at 91.88, which if violated will result in even more drops to 89.62. On the upside, there is a resistance level at 97.08. A further resistance level may holdings at 100.02. The Relative Strength Index (RSI) on the 14-day chart is 28.11, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -8.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.63%. Stochastics %K at 4.38% indicates the stock is a buying.
How much short interest is there in ArcBest Corp?
A steep rise in short interest was recorded in ArcBest Corp stocks on 2024-11-29, dropping by 16743.0 shares to a total of 1.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 1.62 million shares. There was a decline of -1.05%, which implies that there is a negative sentiment for the stock.
