In a filing, Ambarella Inc revealed its Sr. Vice President, Systems Ju Chi-Hong unloaded Company’s shares for reported $0.32 million on Jun 26 ’24. In the deal valued at $52.90 per share,6,000 shares were sold. As a result of this transaction, Ju Chi-Hong now holds 173,193 shares worth roughly $9.72 million.
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Then, Ju Chi-Hong sold 8,900 shares, generating $494,217 in total proceeds. Upon selling the shares at $55.53, the Sr. Vice President, Systems now owns 179,193 shares.
Before that, Wang Feng-Ming sold 3,058 shares. Ambarella Inc shares valued at $169,658 were divested by the CEO at a price of $55.48 per share. As a result of the transaction, Wang Feng-Ming now holds 803,574 shares, worth roughly $45.08 million.
Wells Fargo downgraded its Ambarella Inc [AMBA] rating to an Equal weight from a an Overweight in a research note published on January 03, 2024; the price target was decreased to $65 from $85. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid September with a ‘”an Outperform”‘ rating. Needham also remained covering AMBA and reiterated its “Buy” recommendation on August 30, 2023. TD Cowen revised its rating on August 30, 2023. It rated AMBA as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of AMBA
On Tuesday, Ambarella Inc [NASDAQ:AMBA] saw its stock jump 4.64% to $56.10. Over the last five days, the stock has gained 6.21%. Ambarella Inc shares have fallen nearly -8.47% since the year began. Nevertheless, the stocks have fallen -32.95% over the past one year. While a 52-week high of $85.09 was reached on 02/28/24, a 52-week low of $40.31 was recorded on 04/22/24. SMA at 50 days reached $50.73, while 200 days put it at $52.98. A total of 0.39 million shares were traded, compared to the trading of 0.86 million shares in the previous session.
Levels Of Support And Resistance For AMBA Stock
The 24-hour chart illustrates a support level at 54.43, which if violated will result in even more drops to 52.75. On the upside, there is a resistance level at 56.96. A further resistance level may holdings at 57.81. The Relative Strength Index (RSI) on the 14-day chart is 58.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 44.68%. Stochastics%K at 33.80% indicates the stock is a holding.
