Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ares Commercial Real Estate Corp shares valued at $194,669 were sold by Donohoe Bryan Patrick on Jan 30 ’24. At $10.32 per share, Donohoe Bryan Patrick sold 18,868 shares. The insider’s holdings dropped to 197,414 shares worth approximately $1.35 million following the completion of this transaction.
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Also, FEINGOLD ANTON sold 5,890 shares, netting a total of over 61,105 in proceeds. Following the sale of shares at $10.37 each, the insider now holds 68,975 shares.
Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in early March. As of December 06, 2023, UBS has initiated its “Neutral” rating for ACRE. Earlier on December 05, 2023, JMP Securities downgraded its rating. Their new recommendation was “a Mkt perform” for ACRE stock which previously was a “a Mkt outperform”.
Analyzing ACRE Stock Performance
During the last five days, there has been a drop of approximately -9.99%. Over the course of the year, Ares Commercial Real Estate Corp shares have dropped approximately -33.88%. Shares of the company reached a 52-week high of $10.53 on 01/29/24 and a 52-week low of $6.36 on 04/18/24. A 50-day SMA is recorded $7.15, while a 200-day SMA reached $8.26. Nevertheless, trading volume fell to 0.65 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Ares Commercial Real Estate Corp (ACRE)
According to the 24-hour chart, there is a support level at 6.75, which, if violated, would cause prices to drop to 6.66. In the upper region, resistance lies at 6.95. The next price resistance is at 7.06. RSI (Relative Strength Index) is 39.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.60, which suggests the price will decrease in the coming days. Percent R is at 77.03%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
