The stock of 3M Company (NYSE: MMM) has decreased by -0.02 when compared to last closing price of 101.06.Despite this, the company has seen a loss of -6.35% in its stock price over the last five trading days. The Motley Fool reported 2023-09-17 that Management has a poor record of meeting its own guidance. Investors were left unimpressed even though management reaffirmed earnings guidance.
Is It Worth Investing in 3M Company (NYSE: MMM) Right Now?
while the 36-month beta value is 0.97.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 17 as “hold,” and 2 as “sell.”
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The average price point forecasted by analysts for 3M Company (MMM) is $115.90, which is $12.32 above the current market price. The public float for MMM is 551.30M, and currently, short sellers hold a 2.16% ratio of that floaft. The average trading volume of MMM on September 19, 2023 was 3.75M shares.
MMM’s Market Performance
The stock of 3M Company (MMM) has seen a -6.35% decrease in the past week, with a -0.75% drop in the past month, and a -3.35% fall in the past quarter. The volatility ratio for the week is 2.88%, and the volatility levels for the past 30 days are at 2.08% for MMM. The simple moving average for the last 20 days is -2.26% for MMM’s stock, with a simple moving average of -6.62% for the last 200 days.
Analysts’ Opinion of MMM
Many brokerage firms have already submitted their reports for MMM stocks, with HSBC Securities repeating the rating for MMM by listing it as a “Hold.” The predicted price for MMM in the upcoming period, according to HSBC Securities is $109 based on the research report published on September 15, 2023 of the current year 2023.
MMM Trading at -3.02% from the 50-Day Moving Average
After a stumble in the market that brought MMM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -24.55% of loss for the given period.
Volatility was left at 2.08%, however, over the last 30 days, the volatility rate increased by 2.88%, as shares surge +1.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.85% upper at present.
During the last 5 trading sessions, MMM fell by -6.35%, which changed the moving average for the period of 200-days by -19.89% in comparison to the 20-day moving average, which settled at $103.42. In addition, 3M Company saw -15.74% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MMM starting from Ashish Khandpur K, who sale 9,432 shares at the price of $99.27 back on May 18. After this action, Ashish Khandpur K now owns 20,943 shares of 3M Company, valued at $936,306 using the latest closing price.
Hammes Eric D., the EVP & Chief Count Gov Svc Off of 3M Company, sale 6,487 shares at $105.33 during a trade that took place back on Apr 28, which means that Hammes Eric D. is holding 10,430 shares at $683,243 based on the most recent closing price.
Stock Fundamentals for MMM
Equity return is now at value -11.30, with -3.10 for asset returns.
Conclusion
In a nutshell, 3M Company (MMM) has experienced a bad performance in recent times. The stock has received mixed “sell” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
