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A company insider recently bought 1,000 shares of Hanmi Financial Corp. [HAFC]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Hanmi Financial Corp. shares valued at $16,502 were purchased by SANTAROSA ROMOLO on Feb 12 ’24. At $16.50 per share, SANTAROSA ROMOLO acquired 1,000 shares. The insider’s holdings grew to 52,334 shares worth approximately $0.85 million following the completion of this transaction.

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Also, SANTAROSA ROMOLO purchased 1,000 shares, netting a total of over 14,230 in proceeds. Following the buying of shares at $14.23 each, the insider now holds 51,334 shares.

As published in a research note from DA Davidson on May 18, 2022, Hanmi Financial Corp. [HAFC] has been rated down from a Buy to a Neutral and the price target has been revised to $25. Analysts at DA Davidson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid November. As of January 27, 2021, Janney has increased its “Neutral” rating to a “Buy” for HAFC. Earlier on October 06, 2020, Wedbush initiated its rating. Their recommendation was “a Neutral” for HAFC stock.

Analyzing HAFC Stock Performance

During the last five days, there has been a surge of approximately 1.95%. Over the course of the year, Hanmi Financial Corp. shares have dropped approximately -16.34%. Shares of the company reached a 52-week high of $19.71 on 01/02/24 and a 52-week low of $14.45 on 04/16/24. A 50-day SMA is recorded $15.80, while a 200-day SMA reached $16.24. Nevertheless, trading volume fell to 72001.0 shares from 0.14 million shares the previous day.

Support And Resistance Levels for Hanmi Financial Corp. (HAFC)

According to the 24-hour chart, there is a support level at 16.08, which, if violated, would cause prices to drop to 15.92. In the upper region, resistance lies at 16.54. The next price resistance is at 16.84. RSI (Relative Strength Index) is 56.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.62, which suggests the price will decrease in the coming days. Percent R is at 29.96%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.

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