Cleveland-Cliffs Inc (NYSE:CLF) price on current trading day, fall -0.79% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.38.
A look at the stock’s price movement, the level at last check in today’s session was $9.46, moving within a range at $9.15 and $9.4. The beta value (5-Year monthly) was 1.965. Turning to its 52-week performance, $22.97 and $9.13 were the 52-week high and 52-week low respectively. Overall, CLF moved -24.86% over the past month.
Cleveland-Cliffs Inc’s market cap currently stands at around $4.64 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 4.47B for the company’s revenue for the quarter, with a low and high estimate of 4.35B and 4.63B respectively. The average forecast suggests down to a -12.56% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 19.31B, representing a -12.22% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CLF is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 9 recommend CLF as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CLF’s current price about -14.84% and -21.97% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.70, while 7-day volatility ratio is 4.75% and 4.88% in the 30-day chart. Further, Cleveland-Cliffs Inc (CLF) has a beta value of 1.93, and an average true range (ATR) of 0.54. Analysts have given the company’s stock an average 52-week price target of $16.5, forecast between a low of $16.5 and high of $16.5. Looking at the price targets, the low is -75.91% off recent price level in today’s trading while to achieve the yearly target high, it has to move -75.91%. Nonetheless, investors will most likely welcome a -75.91% jump to $16.5 which is the analysts’ median price.
If we refocus on Cleveland-Cliffs Inc (NYSE:CLF), historical trading data shows that trading volumes averaged 20.53 over the past 10 days and 13.64 million over the past 3 months. The company’s latest data on shares outstanding shows there are 493.94 million shares.
The 2.02% of Cleveland-Cliffs Inc’s shares are in the hands of company insiders while institutional holders own 70.36% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 44.17 million on 2024-11-29, giving us a short ratio of 2.95. The data shows that as of 2024-11-29 short interest in Cleveland-Cliffs Inc (CLF) stood at 1147.00004 of shares outstanding, with shares short rising to 41.49 million registered in 2024-10-31. Current price change has pushed the stock -54.04% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLF stock continues to rise going into the next quarter.
