Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CNX Resources Corp shares valued at $33,421,750 were sold by MFN Partners, LP on Jan 06 ’25. At $31.09 per share, MFN Partners, LP sold 1,075,000 shares. The insider’s holdings dropped to 13,925,000 shares worth approximately $387.39 million following the completion of this transaction.
Also, LANIGAN BERNARD JR purchased 75,000 shares, netting a total of over 2,010,750 in proceeds. Following the buying of shares at $26.81 each, the insider now holds 401,820 shares.
Before that, LANIGAN BERNARD JR had added 75,000 shares to its account. In a trade valued at $2,005,500, the Director bought CNX Resources Corp shares for $26.74 each. Upon closing the transaction, the insider’s holdings increased to 75,000 shares, worth approximately $9.09 million.
As published in their initiating research note from TD Cowen on January 15, 2025, CNX Resources Corp [CNX] has been a Hold and the price target has been revised to $27. Analysts at Morgan Stanley started covering the stock with ‘”an Underweight”‘ outlook in a report released in early January. As of December 16, 2024, Mizuho has decreased its “Neutral” rating to a “an Underperform” for CNX. Earlier on December 05, 2024, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for CNX stock which previously was a “a Neutral”.
Analyzing CNX Stock Performance
During the last five days, there has been a drop of approximately -4.89%. Over the course of the year, CNX Resources Corp shares have dropped approximately -24.13%. Shares of the company reached a 52-week high of $39.00 on 01/03/25 and a 52-week low of $27.47 on 01/29/25. A 50-day SMA is recorded $35.30, while a 200-day SMA reached $29.73. Nevertheless, trading volume fell to 2.35 million shares from 2.88 million shares the previous day.
Support And Resistance Levels for CNX Resources Corp (CNX)
According to the 24-hour chart, there is a support level at 27.52, which, if violated, would cause prices to drop to 27.21. In the upper region, resistance lies at 28.07. The next price resistance is at 28.32. RSI (Relative Strength Index) is 23.99 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.58, which suggests the price will decrease in the coming days. Percent R is at 91.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
