While this happened, Morgan Stanley downgraded its StoneCo Ltd [STNE] rating to an Underweight from a an Equal-weight in a research note published on September 05, 2024; the price target was decreased to $7 from $16.50. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in early July from “a Neutral” to “a Buy”. JP Morgan also remained covering STNE and has increased its forecast on June 06, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. UBS revised its rating on February 01, 2024. It rated STNE as “a Neutral” which previously was an “a Buy”.
Price Performance Review of STNE
On Tuesday, StoneCo Ltd [NASDAQ:STNE] saw its stock jump 1.34% to $8.30. Over the last five days, the stock has gained 5.33%. StoneCo Ltd shares have risen nearly 4.14% since the year began. Nevertheless, the stocks have fallen -51.46% over the past one year. While a 52-week high of $19.46 was reached on 01/06/25, a 52-week low of $7.83 was recorded on 01/02/25. SMA at 50 days reached $9.65, while 200 days put it at $12.55.
Levels Of Support And Resistance For STNE Stock
The 24-hour chart illustrates a support level at 8.20, which if violated will result in even more drops to 8.11. On the upside, there is a resistance level at 8.40. A further resistance level may holdings at 8.51. The Relative Strength Index (RSI) on the 14-day chart is 41.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.66%. Stochastics %K at 28.70% indicates the stock is a holding.
How much short interest is there in StoneCo Ltd?
A steep rise in short interest was recorded in StoneCo Ltd stocks on 2024-12-13, growing by 7.17 million shares to a total of 24.36 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 17.19 million shares. There was a rise of 29.44%, which implies that there is a positive sentiment for the stock.
