Summit Materials Inc’s recently made public that its insider Gaskill Christopher Burke unloaded Company’s shares for reported $78198.0 on Dec 10 ’24. In the deal valued at $50.91 per share,1,536 shares were sold. As a result of this transaction, Gaskill Christopher Burke now holds 40,221 shares worth roughly $2.1 million.
Then, Gaskill Christopher Burke bought 1,536 shares, generating $78,201 in total proceeds.
Before that, Ghelani Kekin bought 17,936 shares. Summit Materials Inc shares valued at $694,303 were divested by the Officer at a price of $38.71 per share.
Jefferies downgraded its Summit Materials Inc [SUM] rating to a Hold from a a Buy in a research note published on December 16, 2024; the price target was decreased to $52.50 from $58. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in late October from “an Equal weight” to “an Overweight”. RBC Capital Mkts also remained covering SUM and has increased its forecast on October 25, 2024 with a “an Outperform” recommendation from previously “Sector perform” rating. Morgan Stanley started covering the stock on August 26, 2024. It rated SUM as “an Overweight”.
Price Performance Review of SUM
On Tuesday, Summit Materials Inc [NYSE:SUM] saw its stock jump 2.04% to $52.14. Over the last five days, the stock has gained 3.17%. Summit Materials Inc shares have risen nearly 3.04% since the year began. Nevertheless, the stocks have risen 41.65% over the past one year. While a 52-week high of $53.49 was reached on 01/07/25, a 52-week low of $34.38 was recorded on 01/02/25. SMA at 50 days reached $49.80, while 200 days put it at $41.73.
Levels Of Support And Resistance For SUM Stock
The 24-hour chart illustrates a support level at 51.32, which if violated will result in even more drops to 50.49. On the upside, there is a resistance level at 52.57. A further resistance level may holdings at 52.99. The Relative Strength Index (RSI) on the 14-day chart is 76.11, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.60%. Stochastics %K at 92.71% indicates the stock is a selling.
How much short interest is there in Summit Materials Inc?
A steep rise in short interest was recorded in Summit Materials Inc stocks on 2024-12-13, growing by 1.97 million shares to a total of 5.16 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 3.19 million shares. There was a rise of 38.16%, which implies that there is a positive sentiment for the stock.
