The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Eastman Chemical Co shares valued at $1,919,190 were sold by Costa Mark J on Nov 29 ’24. At $105.00 per share, Costa Mark J sold 18,278 shares. The insider’s holdings dropped to 395,699 shares worth approximately $36.3 million following the completion of this transaction.
Also, Holt Adrian James sold 3,683 shares, netting a total of over 386,273 in proceeds. Following the sale of shares at $104.88 each, the insider now holds 0 shares.
Before that, Holt Adrian James had added 3,683 shares to its account. In a trade valued at $386,273, the Officer bought Eastman Chemical Co shares for $104.88 each.
As published in a research note from BofA Securities on January 14, 2025, Eastman Chemical Co [EMN] has been rated up from a Neutral to a Buy and the price target has been revised to $109 from $115. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of November 26, 2024, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for EMN. Earlier on October 16, 2024, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for EMN stock which previously was a “a Buy”.
Analyzing EMN Stock Performance
During the last five days, there has been a surge of approximately 4.04%. Over the course of the year, Eastman Chemical Co shares have jumped approximately 0.46%. Shares of the company reached a 52-week high of $94.22 on 01/15/25 and a 52-week low of $86.70 on 01/10/25. A 50-day SMA is recorded $97.35, while a 200-day SMA reached $100.05. Nevertheless, trading volume fell to 0.75 million shares from 1.42 million shares the previous day.
Support And Resistance Levels for Eastman Chemical Co (EMN)
According to the 24-hour chart, there is a support level at 90.97, which, if violated, would cause prices to drop to 90.19. In the upper region, resistance lies at 92.33. The next price resistance is at 92.91. RSI (Relative Strength Index) is 45.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.91, which suggests the price will increase in the coming days. Percent R is at 33.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
