Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Steel Dynamics Inc shares valued at $277,500 were sold by Poinsatte Richard A on Nov 15 ’24. At $138.75 per share, Poinsatte Richard A sold 2,000 shares. The insider’s holdings dropped to 21,101 shares worth approximately $2.36 million following the completion of this transaction.
Also, Poinsatte Richard A purchased 2,000 shares, netting a total of over 275,620 in proceeds.
Before that, Alvarez Miguel had sold 6,650 shares from its account. In a trade valued at $950,950, the Senior Vice President traded Steel Dynamics Inc shares for $143.00 each. Upon closing the transaction, the insider’s holdings decreased to 6,650 shares, worth approximately $13.09 million.
As published in a research note from UBS on December 12, 2024, Steel Dynamics Inc [STLD] has been rated down from a Buy to a Neutral and the price target has been revised to $149 from $145. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in early December. As of October 01, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for STLD. Earlier on September 17, 2024, BMO Capital Markets resumed its rating. Their recommendation was “a Market perform” for STLD stock.
Analyzing STLD Stock Performance
During the last five days, there has been a drop of approximately -4.38%. Over the course of the year, Steel Dynamics Inc shares have dropped approximately -1.88%. Shares of the company reached a 52-week high of $115.86 on 01/02/25 and a 52-week low of $111.74 on 01/02/25. A 50-day SMA is recorded $133.31, while a 200-day SMA reached $129.80. Nevertheless, trading volume fell to 1.19 million shares from 0.89 million shares the previous day.
Support And Resistance Levels for Steel Dynamics Inc (STLD)
According to the 24-hour chart, there is a support level at 110.49, which, if violated, would cause prices to drop to 109.06. In the upper region, resistance lies at 114.61. The next price resistance is at 117.30. RSI (Relative Strength Index) is 22.22 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.07, which suggests the price will decrease in the coming days. Percent R is at 99.05%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
