ArcelorMittal S.A. [MT] Is Currently -3.47 below its 200 Period Moving Avg: What Does This Mean?


ArcelorMittal S.A. [NYSE: MT] loss -3.47% or -0.77 points to close at $21.42 with a heavy trading volume of 2496149 shares. The company report on July 4, 2022 that Blackrock Inc. shareholding notification.

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4 July 2022, 17:00 CET.

ArcelorMittal (the ‘Company’) announces that on 1 July 2022 it received a shareholding notification from BlackRock, Inc. According to the notification, the following threshold of (potential) voting rights was reached:.

It opened the trading session at $21.21, the shares rose to $21.495 and dropped to $20.9699, the range by which the price of stock traded the whole day. The daily chart for MT points out that the company has recorded -39.47% loss over the past six months. However, it is still -2.68% lower than its most recent low trading price.

If we look at the average trading volume of 3.93M shares, MT reached to a volume of 2496149 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ArcelorMittal S.A. [MT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MT shares is $42.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for ArcelorMittal S.A. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 22, 2022. The new note on the price target was released on January 27, 2022, representing the official price target for ArcelorMittal S.A. stock. Previously, the target price had yet another raise from $34 to $42, while Credit Suisse kept a Outperform rating on MT stock.

The Average True Range (ATR) for ArcelorMittal S.A. is set at 1.05, with the Price to Sales ratio for MT stock in the period of the last 12 months amounting to 0.23. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 6.33. Price to Free Cash Flow for MT in the course of the last twelve months was 2.35 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for MT stock

ArcelorMittal S.A. [MT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.47. With this latest performance, MT shares dropped by -20.81% in over the last four-week period, additionally sinking by -39.47% over the last 6 months – not to mention a drop of -30.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MT stock in for the last two-week period is set at 30.02, with the RSI for the last a single of trading hit 28.58, and the three-weeks RSI is set at 32.45 for ArcelorMittal S.A. [MT]. The present Moving Average for the last 50 days of trading for this stock 27.23, while it was recorded at 21.89 for the last single week of trading, and 30.38 for the last 200 days.

ArcelorMittal S.A. [MT]: A deeper dive into fundamental analysis

ArcelorMittal S.A.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.60.

An analysis of insider ownership at ArcelorMittal S.A. [MT]

There are presently around $1,131 million, or 5.90% of MT stock, in the hands of institutional investors. The top three institutional holders of MT stocks are: GQG PARTNERS LLC with ownership of 8,617,212, which is approximately -57.428% of the company’s market cap and around 44.80% of the total institutional ownership; ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, holding 5,349,935 shares of the stock with an approximate value of $118.72 million in MT stocks shares; and FMR LLC, currently with $104.16 million in MT stock with ownership of nearly 207.025% of the company’s market capitalization.

113 institutional holders increased their position in ArcelorMittal S.A. [NYSE:MT] by around 19,400,834 shares. Additionally, 107 investors decreased positions by around 20,761,413 shares, while 33 investors held positions by with 10,824,202 shares. The mentioned changes placed institutional holdings at 50,986,449 shares, according to the latest SEC report filing. MT stock had 35 new institutional investments in for a total of 4,359,937 shares, while 39 institutional investors sold positions of 2,089,331 shares during the same period.