Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ambarella Inc shares valued at $11,873 were sold by Schwarting Elizabeth M on Mar 20 ’24. At $49.47 per share, Schwarting Elizabeth M sold 240 shares. The insider’s holdings dropped to 6,164 shares worth approximately $0.26 million following the completion of this transaction.
Also, Wang Feng-Ming sold 2,173 shares, netting a total of over 107,064 in proceeds. Following the sale of shares at $49.27 each, the insider now holds 806,632 shares.
Before that, Young John Alexander had sold 1,546 shares from its account. In a trade valued at $76,171, the CFO traded Ambarella Inc shares for $49.27 each. Upon closing the transaction, the insider’s holdings decreased to 1,546 shares, worth approximately $4.58 million.
As published in a research note from Wells Fargo on January 03, 2024, Ambarella Inc [AMBA] has been rated down from an Overweight to an Equal weight and the price target has been revised to $65 from $85. Analysts at Northland Capital started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid September. As of August 30, 2023, Needham has reiterated its “Buy” rating for AMBA. Earlier on August 30, 2023, TD Cowen downgraded its rating. Their new recommendation was “a Market perform” for AMBA stock which previously was a “an Outperform”.
Analyzing AMBA Stock Performance
During the last five days, there has been a drop of approximately -2.52%. Over the course of the year, Ambarella Inc shares have dropped approximately -30.56%. Shares of the company reached a 52-week high of $65.39 on 02/28/24 and a 52-week low of $40.31 on 04/22/24. A 50-day SMA is recorded $50.92, while a 200-day SMA reached $58.04. Nevertheless, trading volume fell to 0.78 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Ambarella Inc (AMBA)
According to the 24-hour chart, there is a support level at 42.04, which, if violated, would cause prices to drop to 41.52. In the upper region, resistance lies at 43.04. The next price resistance is at 43.52. RSI (Relative Strength Index) is 32.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.39, which suggests the price will decrease in the coming days. Percent R is at 77.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
