Commercial Metals Co’s recently made public that its Former Officer Smith Barbara acquired Company’s shares for reported $3.05 million on Oct 29 ’24. In the deal valued at $54.43 per share,55,975 shares were bought.
Then, Smith Barbara bought 71,777 shares, generating $3,975,358 in total proceeds.
Before that, Smith Barbara sold 35,704 shares. Commercial Metals Co shares valued at $2,066,548 were divested by the Executive Chairman at a price of $57.88 per share. As a result of the transaction, Smith Barbara now holds 36,196 shares, worth roughly $1.77 million.
Exane BNP Paribas downgraded its Commercial Metals Co [CMC] rating to a Neutral from a an Outperform in a research note published recently. UBS also remained covering CMC and has decreased its forecast on December 12, 2024 with a “Sell” recommendation from previously “Buy” rating. Goldman started covering the stock on December 02, 2024. It rated CMC as “a Buy”.
Price Performance Review of CMC
On Tuesday, Commercial Metals Co [NYSE:CMC] saw its stock fall -3.02% to $48.89. Over the last five days, the stock has lost -0.67%. Commercial Metals Co shares have fallen nearly -1.43% since the year began. Nevertheless, the stocks have risen 1.39% over the past one year. While a 52-week high of $64.53 was reached on 01/06/25, a 52-week low of $47.42 was recorded on 01/03/25. SMA at 50 days reached $56.85, while 200 days put it at $55.17.
Levels Of Support And Resistance For CMC Stock
The 24-hour chart illustrates a support level at 47.98, which if violated will result in even more drops to 47.08. On the upside, there is a resistance level at 50.31. A further resistance level may holdings at 51.74. The Relative Strength Index (RSI) on the 14-day chart is 32.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.10%. Stochastics %K at 14.37% indicates the stock is a buying.
How much short interest is there in Commercial Metals Co?
A steep rise in short interest was recorded in Commercial Metals Co stocks on 2024-12-13, growing by 0.42 million shares to a total of 3.7 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 3.27 million shares. There was a rise of 11.47%, which implies that there is a positive sentiment for the stock.
