As this happened, Wells Fargo upgraded its Ardagh Metal Packaging S.A. [AMBP] rating to an Overweight from a an Equal weight in a research note published on October 15, 2024; the price target was increased to $5 from $4.25. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in mid July from “a Buy” to “a Neutral”. BofA Securities also remained covering AMBP and has decreased its forecast on April 01, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. Morgan Stanley started covering the stock on March 18, 2024. It rated AMBP as “an Underweight”.
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Price Performance Review of AMBP
On Tuesday, Ardagh Metal Packaging S.A. [NYSE:AMBP] saw its stock jump 3.39% to $3.96. Over the last five days, the stock has gained 7.61%. Ardagh Metal Packaging S.A. shares have risen nearly 3.13% since the year began. Nevertheless, the stocks have risen 47.76% over the past one year. While a 52-week high of $4.17 was reached on 04/29/24, a 52-week low of $2.57 was recorded on 08/12/24. SMA at 50 days reached $3.57, while 200 days put it at $3.63.
Levels Of Support And Resistance For AMBP Stock
The 24-hour chart illustrates a support level at 3.87, which if violated will result in even more drops to 3.79. On the upside, there is a resistance level at 4.06. A further resistance level may holdings at 4.17. The Relative Strength Index (RSI) on the 14-day chart is 69.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.67%. Stochastics %K at 76.83% indicates the stock is a holding.
How much short interest is there in Ardagh Metal Packaging S.A.?
A steep rise in short interest was recorded in Ardagh Metal Packaging S.A. stocks on 2024-09-30, dropping by -0.74 million shares to a total of 2.68 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 3.41 million shares. There was a decline of -27.59%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 16, 2024 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $5 price target.
