CVR Energy Q1 Earnings On Deck: Carl Icahn Loads Up While Wall Street Waits

CVR Energy, Inc. (NYSE:CVI) is set to report its first-quarter earnings Monday after the bell, and Wall Street is bracing for a loss of $0.89 per share on revenue of $1.31 billion.

The stock is down a rough 43.78% over the past year but has been showing signs of resilience lately, falling just 0.85% year-to-date and 6.05% in the past month. But while the scoreboard looks bruised, legendary investor Carl Icahn clearly sees an opening others are missing.

Let's dig into what the charts are signaling and how Icahn’s bold moves set the tone ahead of the numbers.

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CVI Technical Setup Ahead Of Q1 Earnings

Chart created using Benzinga Pro

The technicals are flashing mixed signals. CVI stock, at $18.62, is above its eight-day and 20-day simple moving averages, signaling a short-term bullish signal. However, it sits slightly below its 50-day and well below its 200-day moving averages, suggesting there's still technical damage to repair in the long term.

Meanwhile, CVI's MACD (moving average convergence/divergence) indicator of a negative 0.18 and an RSI (relative strength index) hovering at 51.87 hints at positive momentum but warn that the stock could be treading into overbought territory if the rally continues unchecked.

Icahn's Big Bet On CVI

While Wall Street debates CVR's near-term prospects, Carl Icahn has been busy buying – not talking. In April alone, filings show Icahn snapped up over 1.5 million shares worth more than $27 million. His total stake now sits at a commanding 70.1 million shares.

This isn't a silent vote of confidence. When Icahn leans into a stock this hard, it's usually a prelude to strategic shakeups, boardroom battles, or transformational plays. Investors ignoring this power move might be missing the bigger picture.

CVI Price Action: CVI stock was trading at $18.67 per share at the time of publication.

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