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The Attractiveness of Investing In American Coastal Insurance Corp (ACIC) is Growing

In a filing, American Coastal Insurance Corp revealed its Director DAVIS KERN MICHAEL acquired Company’s shares for reported $15915.0 on Mar 22 ’24. In the deal valued at $10.12 per share,1,572 shares were bought. As a result of this transaction, DAVIS KERN MICHAEL now holds 3,326 shares worth roughly $40510.68.

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Then, Maroney Patrick bought 5,000 shares, generating $42,500 in total proceeds. Upon buying the shares at $8.50, the Director now owns 85,000 shares.

Before that, DAVIS KERN MICHAEL bought 2,000 shares. American Coastal Insurance Corp shares valued at $18,215 were divested by the Director at a price of $9.11 per share. As a result of the transaction, DAVIS KERN MICHAEL now holds 2,540 shares, worth roughly $30937.2.

Raymond James initiated its American Coastal Insurance Corp [ACIC] rating to an Outperform in a research note published on January 17, 2024; the price target was $15. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in early August from “an Outperform” to “a Mkt perform”. Wells Fargo also remained covering ACIC and has decreased its forecast on January 06, 2020 with a “an Underweight” recommendation from previously “an Equal weight” rating. Wells Fargo revised its rating on May 08, 2019. It rated ACIC as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of ACIC

On Friday, American Coastal Insurance Corp [NASDAQ:ACIC] saw its stock jump 11.64% to $12.18. Over the last five days, the stock has gained 17.91%. American Coastal Insurance Corp shares have risen nearly 28.75% since the year began. Nevertheless, the stocks have risen 173.71% over the past one year. While a 52-week high of $14.25 was reached on 02/29/24, a 52-week low of $3.84 was recorded on 01/02/24. SMA at 50 days reached $10.70, while 200 days put it at $9.26. A total of 0.83 million shares were traded, compared to the trading of 0.24 million shares in the previous session.

Levels Of Support And Resistance For ACIC Stock

The 24-hour chart illustrates a support level at 11.41, which if violated will result in even more drops to 10.63. On the upside, there is a resistance level at 13.14. A further resistance level may holdings at 14.10. The Relative Strength Index (RSI) on the 14-day chart is 70.39, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.10%. Stochastics %K at 67.24% indicates the stock is a holding.

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