United States Steel Corporation [NYSE: X] traded at a high on 04/10/23, posting a 2.50 gain after which it closed the day’ session at $25.42. The company report on March 23, 2023 that U. S. Steel Introduces InduX™ Electrical Steel at Ceres Global.
New product for the growing American electric vehicle market.
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United States Steel Corporation (NYSE: X) today announced that its new electrical steel product, InduX™, will begin production at its Big River Steel facility in the summer of 2023 with the commissioning of its new non-grain oriented (NGO) electrical steel line.
The results of the trading session contributed to over 5642620 shares changing hands. Over the past one week, the price volatility of United States Steel Corporation stands at 4.15% while the volatility over the past one month is 4.31%.
The market cap for X stock reached $5.71 billion, with 232.40 million shares outstanding and 223.70 million shares in the current float. Compared to the average trading volume of 7.02M shares, X reached a trading volume of 5642620 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about United States Steel Corporation [X]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for X shares is $30.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on X stock is a recommendation set at 2.80. 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.
Wolfe Research have made an estimate for United States Steel Corporation shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on March 20, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Underperform. The new note on the price target was released on January 04, 2023, representing the official price target for United States Steel Corporation stock. Previously, the target price had yet another drop from $49 to $44, while Credit Suisse kept a Outperform rating on X stock. On June 14, 2022, analysts decreased their price target for X shares from 34 to 28.
The Average True Range (ATR) for United States Steel Corporation is set at 1.09, with the Price to Sales ratio for X stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 0.58, with the Price to Cash per share for the same quarter was set at 15.59. Price to Free Cash Flow for X in the course of the last twelve months was 3.29 with Quick ratio for the last quarter at 1.40.
How has X stock performed recently?
United States Steel Corporation [X] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.61. With this latest performance, X shares dropped by -11.77% in over the last four-week period, additionally plugging by 29.56% over the last 6 months – not to mention a drop of -29.05% 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 X stock in for the last two-week period is set at 44.40, with the RSI for the last a single of trading hit 46.13, and the three-weeks RSI is set at 44.71 for United States Steel Corporation [X]. The present Moving Average for the last 50 days of trading for this stock 27.62, while it was recorded at 25.18 for the last single week of trading, and 23.92 for the last 200 days.
United States Steel Corporation [X]: Deeper insight into the fundamentals
United States Steel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.00.
Earnings analysis for United States Steel Corporation [X]
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 X. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for United States Steel Corporation go to 8.00%.
Insider trade positions for United States Steel Corporation [X]
There are presently around $4,021 million, or 79.20% of X stock, in the hands of institutional investors. The top three institutional holders of X stocks are: BLACKROCK INC. with ownership of 21,493,323, which is approximately 3.27% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,033,474 shares of the stock with an approximate value of $521.63 million in X stocks shares; and STATE STREET CORP, currently with $256.86 million in X stock with ownership of nearly 10.552% of the company’s market capitalization.
Positions in United States Steel Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 186 institutional holders increased their position in United States Steel Corporation [NYSE:X] by around 16,856,721 shares. Additionally, 223 investors decreased positions by around 34,160,169 shares, while 77 investors held positions by with 111,114,315 shares. The mentioned changes placed institutional holdings at 162,131,205 shares, according to the latest SEC report filing. X stock had 75 new institutional investments in for a total of 5,251,379 shares, while 63 institutional investors sold positions of 5,162,469 shares during the same period.