Cleveland-Cliffs Inc (NYSE:CLF) shares, rose in value, with the stock price up by 6.02% to the previous day’s close as strong demand from buyers drove the stock to $10.04.
Actively observing the price movement in the last trading, the stock closed the session at $9.47. Referring to stock’s 52-week performance, its high was $22.97, and the low was $8.99. On the whole, CLF has fluctuated by 3.08% over the past month.
With the market capitalization of Cleveland-Cliffs Inc currently standing at about $4.96 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 20.46B, with a low estimate of 4.59B and a high estimate of 4.94B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 4.75B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CLF’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of CLF currently trading nearly -8.15% and -2.48% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.11, while the 7-day volatility ratio is showing 8.19% which for the 30-day chart, stands at 6.92%. Furthermore, Cleveland-Cliffs Inc (CLF)’s beta value is 1.87, and its average true range (ATR) is 0.73.
A comparison of Cleveland-Cliffs Inc (CLF) with its peers suggests the former has fared considerably weaker in the market. CLF showed an intraday change of 6.02% in last session, and over the past year, it shrunk by -52.37%%. In comparison, Nucor Corp. (NUE) has moved higher at 2.30%% on the day and was down -28.25% over the past 12 months.
Data on historical trading for Cleveland-Cliffs Inc (NYSE:CLF) indicates that the trading volumes over the past 3 months, they’ve averaged 17.09 million. According to company’s latest data on outstanding shares, there are 493.95 million shares outstanding.
Nearly 2.20% of Cleveland-Cliffs Inc’s shares belong to company insiders and institutional investors own 73.36% of the company’s shares. The stock has risen by 6.81% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CLF stock heading into the next quarter.
