The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ambarella Inc shares valued at $168,432 were purchased by Day Christopher on Sep 30 ’24. At $58.00 per share, Day Christopher acquired 2,904 shares.
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Also, PAISLEY CHRISTOPHER B sold 500 shares, netting a total of over 26,855 in proceeds. Following the sale of shares at $53.71 each, the insider now holds 42,281 shares.
Before that, Schwarting Elizabeth M had sold 913 shares from its account. In a trade valued at $49,977, the Director traded Ambarella Inc shares for $54.74 each. Upon closing the transaction, the insider’s holdings decreased to 913 shares, worth approximately $0.46 million.
As published in a research note from TD Cowen on August 28, 2024, Ambarella Inc [AMBA] has been retained to a Hold and the price target has been revised to $75. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of September 18, 2023, Northland Capital has initiated its “an Outperform” rating for AMBA. Earlier on August 30, 2023, Needham resumed its rating. Their recommendation was “a Buy” for AMBA stock.
Analyzing AMBA Stock Performance
During the last five days, there has been a surge of approximately 4.77%. Over the course of the year, Ambarella Inc shares have dropped approximately -7.86%. Shares of the company reached a 52-week high of $65.88 on 07/16/24 and a 52-week low of $39.69 on 08/07/24. A 50-day SMA is recorded $51.34, while a 200-day SMA reached $53.00. Nevertheless, trading volume fell to 0.56 million shares from 0.45 million shares the previous day.
Support And Resistance Levels for Ambarella Inc (AMBA)
According to the 24-hour chart, there is a support level at 54.52, which, if violated, would cause prices to drop to 52.57. In the upper region, resistance lies at 57.75. The next price resistance is at 59.02. RSI (Relative Strength Index) is 57.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.84, which suggests the price will decrease in the coming days. Percent R is at 25.04%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
