Corteva Inc. [CTVA] Is Currently 3.17 below its 200 Period Moving Avg: What Does This Mean?

Corteva Inc. [NYSE: CTVA] gained 3.17% or 1.84 points to close at $59.94 with a heavy trading volume of 4911870 shares. The company report on March 28, 2023 that Corteva Agriscience Launches Adavelt™ Active, Bringing Farmers a New Mode of Action Fungicide.

Novel, Natural-origin Disease Control Product Available for Commercial Sale in Canada, South Korea and Australia.

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Corteva Agriscience announced today the commercial launch of Adavelt™ active, with recent product registrations in three countries – Australia, Canada and South Korea. Adavelt active is a novel fungicide with a new mode of action that protects against a wide range of diseases that can impact crop yields.

It opened the trading session at $58.75, the shares rose to $60.00 and dropped to $58.60, the range by which the price of stock traded the whole day. The daily chart for CTVA points out that the company has recorded 4.68% gains over the past six months. However, it is still -19.81% lower than its most recent low trading price.

If we look at the average trading volume of 3.52M shares, CTVA reached to a volume of 4911870 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 Corteva Inc. [CTVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTVA shares is $72.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTVA stock is a recommendation set at 2.20. 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.

Wells Fargo have made an estimate for Corteva Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $64 to $68. The new note on the price target was released on January 11, 2023, representing the official price target for Corteva Inc. stock. Previously, the target price had yet another raise from $70 to $73, while UBS kept a Neutral rating on CTVA stock. On November 15, 2022, analysts increased their price target for CTVA shares from 70 to 71.

The Average True Range (ATR) for Corteva Inc. is set at 1.49, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 2.45. The Price to Book ratio for the last quarter was 1.69, with the Price to Cash per share for the same quarter was set at 4.65.

Trading performance analysis for CTVA stock

Corteva Inc. [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.35. With this latest performance, CTVA shares dropped by -3.77% in over the last four-week period, additionally plugging by 4.68% over the last 6 months – not to mention a rise of 1.54% 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 CTVA stock in for the last two-week period is set at 52.55, with the RSI for the last a single of trading hit 59.18, and the three-weeks RSI is set at 49.87 for Corteva Inc. [CTVA]. The present Moving Average for the last 50 days of trading for this stock 61.10, while it was recorded at 57.88 for the last single week of trading, and 60.45 for the last 200 days.

Corteva Inc. [CTVA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Corteva Inc. [CTVA] shares currently have an operating margin of +10.84 and a Gross Margin at +35.98. Corteva Inc.’s Net Margin is presently recorded at +6.90.

Return on Total Capital for CTVA is now 6.94, given the latest momentum, and Return on Invested Capital for the company is 4.48. Return on Equity for this stock inclined to 4.75, with Return on Assets sitting at 2.84. When it comes to the capital structure of this company, Corteva Inc. [CTVA] has a Total Debt to Total Equity ratio set at 6.94. Additionally, CTVA Total Debt to Total Capital is recorded at 6.49, with Total Debt to Total Assets ending up at 4.12. Long-Term Debt to Equity for the company is recorded at 6.38, with the Long-Term Debt to Total Capital now at 5.96.

Reflecting on the efficiency of the workforce at the company, Corteva Inc. [CTVA] managed to generate an average of $57,381 per employee. Receivables Turnover for the company is 3.31 with a Total Asset Turnover recorded at a value of 0.41.Corteva Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.60.

Corteva Inc. [CTVA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corteva Inc. go to 13.49%.

An analysis of insider ownership at Corteva Inc. [CTVA]

There are presently around $33,751 million, or 83.30% of CTVA stock, in the hands of institutional investors. The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 82,226,470, which is approximately 0.208% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 60,187,299 shares of the stock with an approximate value of $3.5 billion in CTVA stocks shares; and STATE STREET CORP, currently with $1.96 billion in CTVA stock with ownership of nearly -1.108% of the company’s market capitalization.

Positions in Corteva Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 611 institutional holders increased their position in Corteva Inc. [NYSE:CTVA] by around 36,506,459 shares. Additionally, 524 investors decreased positions by around 37,484,832 shares, while 262 investors held positions by with 506,920,648 shares. The mentioned changes placed institutional holdings at 580,911,939 shares, according to the latest SEC report filing. CTVA stock had 175 new institutional investments in for a total of 8,180,325 shares, while 80 institutional investors sold positions of 1,720,004 shares during the same period.


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