Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Veeco Instruments Inc shares valued at $72,598 were sold by KIERNAN JOHN P on Sep 10 ’24. At $29.04 per share, KIERNAN JOHN P sold 2,500 shares. The insider’s holdings dropped to 85,142 shares worth approximately $2.88 million following the completion of this transaction.
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Also, John Kiernan purchased 7,500 shares, netting a total of over 221,550 in proceeds.
Before that, KIERNAN JOHN P had sold 2,500 shares from its account. In a trade valued at $91,208, the SVP & CHIEF FINANCIAL OFFICER traded Veeco Instruments Inc shares for $36.48 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $2.97 million.
As published in a research note from Citigroup on July 15, 2024, Veeco Instruments Inc [VECO] has been rated down from a Buy to a Neutral and the price target has been revised to $50 from $45. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 01, 2023, Needham has initiated its “Buy” rating for VECO. Earlier on January 23, 2023, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for VECO stock which previously was a “an Overweight”.
Analyzing VECO Stock Performance
During the last five days, there has been a surge of approximately 5.94%. Over the course of the year, Veeco Instruments Inc shares have jumped approximately 9.12%. Shares of the company reached a 52-week high of $49.25 on 07/11/24 and a 52-week low of $27.51 on 01/10/24. A 50-day SMA is recorded $35.36, while a 200-day SMA reached $36.42. Nevertheless, trading volume fell to 1.15 million shares from 0.39 million shares the previous day.
Support And Resistance Levels for Veeco Instruments Inc (VECO)
According to the 24-hour chart, there is a support level at 32.80, which, if violated, would cause prices to drop to 31.75. In the upper region, resistance lies at 34.48. The next price resistance is at 35.10. RSI (Relative Strength Index) is 53.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.49, which suggests the price will increase in the coming days. Percent R is at 3.50%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
