Cleveland-Cliffs Inc (NYSE: CLF) has seen a decline in its stock price by -2.15 in relation to its previous close of 13.94. However, the company has experienced a 4.52% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-21 that Wolfspeed rallied due to a $750 million investment from Apollo Global Management, despite high short interest and bearish sentiment. SolarEdge Technologies faces significant competition and high inventory levels, making it a potential tax-loss selling candidate. Moderna’s stock is under pressure due to declining Covid-19 vaccine demand and weakened profitability, suggesting it should be sold.
Is It Worth Investing in Cleveland-Cliffs Inc (NYSE: CLF) Right Now?
Cleveland-Cliffs Inc (NYSE: CLF) has a higher price-to-earnings ratio of 171.14x compared to its average ratio, The 36-month beta value for CLF is at 1.97. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 5 as “hold,” and 2 as “sell.”
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The public float for CLF is 458.04M, and currently, shorts hold a 10.51% of that float. The average trading volume for CLF on October 22, 2024 was 11.87M shares.
CLF’s Market Performance
CLF’s stock has seen a 4.52% increase for the week, with a 15.89% rise in the past month and a -14.11% fall in the past quarter. The volatility ratio for the week is 3.15%, and the volatility levels for the past 30 days are at 3.19% for Cleveland-Cliffs Inc The simple moving average for the last 20 days is 5.22% for CLF stock, with a simple moving average of -18.43% for the last 200 days.
Analysts’ Opinion of CLF
Many brokerage firms have already submitted their reports for CLF stocks, with Seaport Research Partners repeating the rating for CLF by listing it as a “Buy.” The predicted price for CLF in the upcoming period, according to Seaport Research Partners is $16.50 based on the research report published on August 27, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see CLF reach a price target of $17, previously predicting the price at $23. The rating they have provided for CLF stocks is “Neutral” according to the report published on June 11th, 2024.
Jefferies gave a rating of “Buy” to CLF, setting the target price at $22 in the report published on May 20th of the current year.
CLF Trading at 8.44% from the 50-Day Moving Average
After a stumble in the market that brought CLF to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -40.62% of loss for the given period.
Volatility was left at 3.19%, however, over the last 30 days, the volatility rate increased by 3.15%, as shares surge +14.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.49% upper at present.
During the last 5 trading sessions, CLF rose by +4.52%, which changed the moving average for the period of 200-days by -28.59% in comparison to the 20-day moving average, which settled at $12.96. In addition, Cleveland-Cliffs Inc saw -33.20% 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 CLF starting from BALDWIN JOHN T, who purchase 8,000 shares at the price of $14.53 back on Aug 01 ’24. After this action, BALDWIN JOHN T now owns 129,227 shares of Cleveland-Cliffs Inc, valued at $116,240 using the latest closing price.
Taylor Douglas C, the Director of Cleveland-Cliffs Inc, sale 36,000 shares at $14.87 during a trade that took place back on Jun 11 ’24, which means that Taylor Douglas C is holding 100,536 shares at $535,223 based on the most recent closing price.
Stock Fundamentals for CLF
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.06 for the gross margin
The net margin for Cleveland-Cliffs Inc stands at 0.0. The total capital return value is set at 0.04. Equity return is now at value 0.59, with 0.25 for asset returns.
Based on Cleveland-Cliffs Inc (CLF), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at 0.59. The debt to equity ratio resting at 0.5. The interest coverage ratio of the stock is 1.96.
Currently, EBITDA for the company is 2.0 billion with net debt to EBITDA at 1.99. When we switch over and look at the enterprise to sales, we see a ratio of 0.47. The receivables turnover for the company is 11.85for trailing twelve months and the total asset turnover is 1.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.87.
Conclusion
In conclusion, Cleveland-Cliffs Inc (CLF) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. 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.
