CNX Resources Corp [CNX] Is Currently 1.02 below its 200 Period Moving Avg: What Does This Mean?

CNX Resources Corp [NYSE: CNX] gained 1.02% or 0.21 points to close at $20.81 with a heavy trading volume of 3789276 shares. The company report on February 27, 2024 at 12:15 PM that Chemstream Inc. Announces Full Compliance with Historic Radical Transparency Initiative.

Today, Chemstream Inc., in conjunction with CNX Resources Corporation (NYSE: CNX), announced it has become the first service provider to fully comply with the historic Radical Transparency initiative, which was launched as part of the collaboration between CNX and Pennsylvania Governor Josh Shapiro’s Administration in November 2023.

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Across the company, Chemstream, a leading specialty chemical manufacturing and distribution company that supports a wide range of industries, has been working to ensure their robust chemical additive disclosures rapidly meet the high standards of this commitment to heighten operational transparency, including chemical use, in collaboration with state environmental regulators and the public.

The daily chart for CNX points out that the company has recorded -4.37% loss over the past six months.

If we look at the average trading volume of 2.88M shares, CNX reached to a volume of 3789276 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 CNX Resources Corp [CNX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNX shares is $22.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNX stock is a recommendation set at 3.07. 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.

BofA Securities have made an estimate for CNX Resources Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2024. The new note on the price target was released on January 03, 2024, representing the official price target for CNX Resources Corp stock. Previously, the target price had yet another raise from $20 to $27, while Truist kept a Buy rating on CNX stock.

The Average True Range (ATR) for CNX Resources Corp is set at 0.57, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 2.10. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for CNX in the course of the last twelve months was 23.37 with Quick ratio for the last quarter at 0.49.

Trading performance analysis for CNX stock

CNX Resources Corp [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.09. With this latest performance, CNX shares gained by 1.56% in over the last four-week period, additionally sinking by -4.37% over the last 6 months – not to mention a rise of 35.04% 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 CNX stock in for the last two-week period is set at 56.72, with the RSI for the last a single of trading hit 59.08, and the three-weeks RSI is set at 54.73 for CNX Resources Corp [CNX]. The present Moving Average for the last 50 days of trading for this stock 20.17, while it was recorded at 20.76 for the last single week of trading, and 20.08 for the last 200 days.

CNX Resources Corp [CNX]: A deeper dive into fundamental analysis

CNX Resources Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 0.51.

CNX Resources Corp [CNX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, CNX Resources Corp posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.80%. 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 CNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CNX Resources Corp go to 41.60%.

An analysis of Institutional ownership at CNX Resources Corp [CNX]

The top three institutional holders of CNX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNX stock with ownership which is approximately 5.8325%.