CNX Resources Corp Shares Soar 5.85% on Insider Buying, Analyst Update

CNX Resources Corp (CNX) shares surged 5.85% intraday, reaching their highest level since January 2025, driven by a combination of insider buying and analyst updates.

The strategy of buying CNX shares after they reached a recent high and holding for 1 week resulted in a 1.77% loss over the past 5 years. This performance is underwhelming, indicating that this strategy failed to capitalize on the potential growth of the stock. The negative returns suggest that the recent high point was not a reliable indicator of future performance, or that the holding period was too short to capture any potential gains.

On May 12, 2025, Clarkson J. Palmer, a director at CNX Resources Corp, purchased 10,000 common shares of the company. This significant insider buying could indicate confidence in the company's future performance, potentially boosting investor sentiment and driving the stock price higher.

Additionally, on May 13, 2025, Mizuho analyst Nitin Kumar updated the price target for CNX Resources, raising it from $35.00 to $36.00 USD. Despite maintaining an "Underperform" rating, the increased price target suggests that the analyst expects the stock to appreciate in the near term, which could have contributed to the recent price surge.