Cleveland-Cliffs Inc (NYSE:CLF) price on Thursday, May 22, fall -0.43% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $6.97.
A look at the stock’s price movement, the close in the last trading session was $7.00. Turning to its 52-week performance, $17.41 and $6.17 were the 52-week high and 52-week low respectively. Overall, CLF moved -7.56% over the past month.
Cleveland-Cliffs Inc’s market cap currently stands at around $3.45 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 4.94B for the company’s revenue for the quarter, with a low and high estimate of 4.52B and 5.15B respectively. The average forecast suggests down to a -3.07% 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 19.54B, representing a 1.84% jump 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 -10.87% and -14.01% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.74, while 7-day volatility ratio is 2.98% and 4.91% in the 30-day chart. Further, Cleveland-Cliffs Inc (CLF) has a beta value of 1.94, and an average true range (ATR) of 0.49. Analysts have given the company’s stock an average 52-week price target of $11, forecast between a low of $11 and high of $11. Looking at the price targets, the low is -57.82% off current price level while to achieve the yearly target high, price needs to move -57.82%. Nonetheless, investors will most likely welcome a -57.82% jump to $11 which is the analysts’ median price.
If we refocus on Cleveland-Cliffs Inc (NYSE:CLF), historical trading data shows that trading volumes averaged 22.57 million over the past 3 months. The company’s latest data on shares outstanding shows there are 494.49 million shares.
The 1.84% of Cleveland-Cliffs Inc’s shares are in the hands of company insiders while institutional holders own 74.37% of the company’s shares. Current price change has pushed the stock -25.85% 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.
