Monitoring Veeco Instruments Inc (VECO) after recent insider movements

In a filing, Veeco Instruments Inc revealed its SVP – PRODUCT LINE DEVELOPMENT Devasahayam Adrian unloaded Company’s shares for reported $0.18 million on Mar 06 ’24. In the deal valued at $36.41 per share,5,000 shares were sold. As a result of this transaction, Devasahayam Adrian now holds 71,888 shares worth roughly $2.52 million.

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Then, Miller William John sold 30,000 shares, generating $902,070 in total proceeds. Upon selling the shares at $30.07, the CEO now owns 500,152 shares.

Before that, KIERNAN JOHN P sold 4,075 shares. Veeco Instruments Inc shares valued at $126,508 were divested by the SVP & CHIEF FINANCIAL OFFICER at a price of $31.05 per share. As a result of the transaction, KIERNAN JOHN P now holds 65,459 shares, worth roughly $2.3 million.

Citigroup initiated its Veeco Instruments Inc [VECO] rating to a Buy in a research note published on September 13, 2023; the price target was $35. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in early September with a ‘”a Buy”‘ rating. Barclays also remained covering VECO and has decreased its forecast on January 23, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. Northland Capital maintained its rating on December 28, 2021. It rated VECO as “an Outperform”.

Price Performance Review of VECO

On Tuesday, Veeco Instruments Inc [NASDAQ:VECO] saw its stock jump 1.12% to $35.10. Over the last five days, the stock has lost -2.47%. Veeco Instruments Inc shares have risen nearly 13.12% since the year began. Nevertheless, the stocks have risen 68.59% over the past one year. While a 52-week high of $37.75 was reached on 03/01/24, a 52-week low of $17.70 was recorded on 01/10/24. SMA at 50 days reached $32.95, while 200 days put it at $28.65. A total of 0.43 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For VECO Stock

The 24-hour chart illustrates a support level at 34.55, which if violated will result in even more drops to 34.00. On the upside, there is a resistance level at 35.43. A further resistance level may holdings at 35.76. The Relative Strength Index (RSI) on the 14-day chart is 52.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.49%. Stochastics %K at 39.03% indicates the stock is a holding.

How much short interest is there in Veeco Instruments Inc?

A steep rise in short interest was recorded in Veeco Instruments Inc stocks on Feb 29, 2024, growing by 0.19 million shares to a total of 6.39 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.2 million shares. There was a rise of 2.97%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.49% of the overall stock float, the days-to-cover ratio (short ratio) rose to 12.47.

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