Ambarella Inc’s filing revealed that its CEO Wang Feng-Ming unloaded Company’s shares for reported $1.73 million on Sep 05 ’24. In the deal valued at $54.71 per share,31,618 shares were sold. As a result of this transaction, Wang Feng-Ming now holds 803,574 shares worth roughly $43.65 million.
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Then, Wang Feng-Ming sold 4,382 shares, generating $245,470 in total proceeds. Upon selling the shares at $56.02, the CEO now owns 803,574 shares.
Before that, Chen Yun-Lung sold 5,963 shares. Ambarella Inc shares valued at $343,220 were divested by the VP, Business Development at a price of $57.56 per share. As a result of the transaction, Chen Yun-Lung now holds 62,026 shares, worth roughly $3.37 million.
TD Cowen reiterated its Ambarella Inc [AMBA] rating to a Hold in a research note published on August 28, 2024; the price target was $75. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “an Equal weight”. Northland Capital began covering AMBA with “an Outperform” recommendation on September 18, 2023. Needham maintained its rating on August 30, 2023. It rated AMBA as “a Buy”.
Price Performance Review of AMBA
On Tuesday, Ambarella Inc [NASDAQ:AMBA] saw its stock jump 1.80% to $54.32. Over the last five days, the stock has gained 6.87%. Ambarella Inc shares have fallen nearly -11.37% since the year began. Nevertheless, the stocks have fallen -4.89% over the past one year. While a 52-week high of $65.88 was reached on 07/16/24, a 52-week low of $39.69 was recorded on 08/07/24. SMA at 50 days reached $52.46, while 200 days put it at $53.22.
Levels Of Support And Resistance For AMBA Stock
The 24-hour chart illustrates a support level at 53.47, which if violated will result in even more drops to 52.62. On the upside, there is a resistance level at 55.30. A further resistance level may holdings at 56.28. The Relative Strength Index (RSI) on the 14-day chart is 55.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.64%. Stochastics %K at 29.08% indicates the stock is a holding.
How much short interest is there in Ambarella Inc?
A steep rise in short interest was recorded in Ambarella Inc stocks on 2024-08-30, dropping by -0.31 million shares to a total of 1.5 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 1.81 million shares. There was a decline of -20.84%, which implies that there is a negative sentiment for the stock.
