Celanese Corporation (CE) has been under a strong bear grip, hence the stock is down -7.81% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.4% in the past 1 week. The stock has risen by 1.45% in the past week indicating that the buyers are active at lower levels, but the stock is down -6.86% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 1.17% and the 50-Day Moving Average is 2.35%. Celanese Corporation (NYSE:CE): On Fridays trading session , Opening price of the stock was $65.99 with an intraday high of $66.55. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $65.48. However, the stock managed to close at $65.73, a loss of 0.77% for the day. On the previous day, the stock had closed at $66.24. The total traded volume of the day was 766,958 shares.
The company Insiders own 0.49% of Celanese Corporation shares according to the proxy statements. Institutional Investors own 99.27% of Celanese Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -35.61%. Also, Equity Analysts at the Citigroup maintains the rating on Celanese Corporation (NYSE:CE). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency lowers the price target from $81 per share to $77 per share. The rating by the firm was issued on July 28, 2016.
Celanese Corporation is a technology and specialty materials company. The Companys business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene, ultra-high molecular weight polyethylene, polybutylene terephthalate, and liquid crystal polymers, among others. Consumer Specialties products include acetate tow, acetate flakes, acetate film and high intensity sweeteners, among others. Industrial Specialties products include conventional emulsions, vinyl acetate ethylene emulsions and ethylene vinyl acetate, among others. Acetyl Intermediates include acetic acid, vinyl acetate monomer, acetic anhydride and acetaldehyde, among others.