Ares Commercial Real Estate Corp’s recent filing unveils that its Chief Executive Officer Donohoe Bryan Patrick unloaded Company’s shares for reported $0.19 million on Jan 30 ’24. In the deal valued at $10.32 per share,18,868 shares were sold. As a result of this transaction, Donohoe Bryan Patrick now holds 197,414 shares worth roughly $1.34 million.
Then, FEINGOLD ANTON sold 5,890 shares, generating $61,105 in total proceeds. Upon selling the shares at $10.37, the Gen. Counsel VP and Secretary now owns 68,975 shares.
BofA Securities downgraded its Ares Commercial Real Estate Corp [ACRE] rating to an Underperform from a a Buy in a research note published on March 04, 2024; the price target was decreased to $7 from $11. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in early December with a ‘”a Neutral”‘ rating. JMP Securities also remained covering ACRE and has decreased its forecast on December 05, 2023 with a “Mkt perform” recommendation from previously “Mkt outperform” rating. Wells Fargo started covering the stock on September 13, 2023. It rated ACRE as “an Equal weight”.
Price Performance Review of ACRE
On Tuesday, Ares Commercial Real Estate Corp [NYSE:ACRE] saw its stock jump 2.25% to $6.81. Over the last five days, the stock has gained 4.45%. Ares Commercial Real Estate Corp shares have fallen nearly -34.27% since the year began. Nevertheless, the stocks have fallen -22.99% over the past one year. While a 52-week high of $11.24 was reached on 01/29/24, a 52-week low of $6.36 was recorded on 04/18/24. SMA at 50 days reached $7.44, while 200 days put it at $9.38. A total of 0.4 million shares were traded, compared to the trading of 0.42 million shares in the previous session.
Levels Of Support And Resistance For ACRE Stock
The 24-hour chart illustrates a support level at 6.67, which if violated will result in even more drops to 6.53. On the upside, there is a resistance level at 6.89. A further resistance level may holdings at 6.97. The Relative Strength Index (RSI) on the 14-day chart is 41.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.61%. Stochastics %K at 32.65% indicates the stock is a holding.
