Ares Commercial Real Estate Corp’s recently made public that its Chief Executive Officer Donohoe Bryan Patrick unloaded Company’s shares for reported $0.19 million on Jan 30 ’24. In the deal valued at $10.32 per share,18,868 shares were sold. As a result of this transaction, Donohoe Bryan Patrick now holds 197,414 shares worth roughly $1.39 million.
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Then, FEINGOLD ANTON sold 5,890 shares, generating $61,105 in total proceeds. Upon selling the shares at $10.37, the Gen. Counsel VP and Secretary now owns 68,975 shares.
A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early March from “a Buy” to “an Underperform”. UBS began covering ACRE with “Neutral” recommendation on December 06, 2023. JMP Securities revised its rating on December 05, 2023. It rated ACRE as “a Mkt perform” which previously was an “a Mkt outperform”.
Price Performance Review of ACRE
On Tuesday, Ares Commercial Real Estate Corp [NYSE:ACRE] saw its stock jump 0.71% to $7.06. Ares Commercial Real Estate Corp shares have fallen nearly -31.85% since the year began. Nevertheless, the stocks have fallen -32.18% over the past one year. While a 52-week high of $11.24 was reached on 01/29/24, a 52-week low of $6.36 was recorded on 04/18/24. SMA at 50 days reached $7.12, while 200 days put it at $7.97.
Levels Of Support And Resistance For ACRE Stock
The 24-hour chart illustrates a support level at 7.00, which if violated will result in even more drops to 6.94. On the upside, there is a resistance level at 7.09. A further resistance level may holdings at 7.13. The Relative Strength Index (RSI) on the 14-day chart is 51.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.71%. Stochastics %K at 58.05% indicates the stock is a holding.
How much short interest is there in Ares Commercial Real Estate Corp?
A steep rise in short interest was recorded in Ares Commercial Real Estate Corp stocks on 2024-08-15, dropping by -0.65 million shares to a total of 1.79 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 2.45 million shares. There was a decline of -36.45%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on September 13, 2023 when Wells Fargo began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $10 price target.
