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Ganesh Moorthy, a director at Celanese Corp (NYSE:CE), recently acquired 1,000 shares of the company’s common stock. The shares were purchased at an average price of $53.29, resulting in a total transaction value of approximately $53,289. The purchase comes as the stock trades near its 52-week low of $45.94, having declined over 66% in the past year. According to InvestingPro data, the company currently appears undervalued. Following this acquisition, Moorthy holds 3,000 shares indirectly through the Ganesh and Hema Moorthy Revocable Living Trust. Additionally, he directly owns 1,639 shares of Celanese Corp stock. While the company faces near-term challenges, InvestingPro analysis reveals 8 additional investment tips and a comprehensive Pro Research Report, offering deeper insights into Celanese’s financial health and growth prospects.
In other recent news, Celanese Corporation has announced a price increase for several of its chemical products, including vinyl acetate monomer and vinyl-based emulsions, effective March 17, 2025. The price adjustments vary by region, with increases of $100 per metric ton for VAM in the Americas and €100 in the EMEA region. Additionally, Celanese has secured $1.8 billion in senior notes through underwriting agreements with J.P. Morgan Securities, aimed at bolstering its financial position and supporting business operations. In terms of analyst activity, Piper Sandler has adjusted its outlook on Celanese, lowering the stock price target to $50 and maintaining an Underweight rating. This reflects concerns about the company’s earnings and debt reduction efforts. Meanwhile, BofA Securities has reduced its price target from $88 to $72 but maintained a Buy rating, suggesting potential improvement in Celanese’s earnings beyond early 2025. UBS also revised its price target to $60, retaining a Neutral rating, citing challenges in Celanese’s earnings recovery and elevated leverage. These developments highlight the company’s ongoing financial strategies and market challenges.
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