Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. American Coastal Insurance Corp shares valued at $90,928 were purchased by Hogan Michael on Sep 23 ’24. At $11.37 per share, Hogan Michael acquired 8,000 shares. The insider’s holdings grew to 356,754 shares worth approximately $4.51 million following the completion of this transaction.
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Also, MARTZ BRAD sold 5,250 shares, netting a total of over 58,538 in proceeds. Following the sale of shares at $11.15 each, the insider now holds 278,891 shares.
Before that, MARTZ BRAD had sold 25,000 shares from its account. In a trade valued at $290,482, the President traded American Coastal Insurance Corp shares for $11.62 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $3.59 million.
As published in their initiating research note from Raymond James on January 17, 2024, American Coastal Insurance Corp [ACIC] has been an Outperform and the price target has been revised to $15. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early August. As of January 06, 2020, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for ACIC. Earlier on May 08, 2019, Wells Fargo downgraded its rating. Their new recommendation was “a Market perform” for ACIC stock which previously was a “an Outperform”.
Analyzing ACIC Stock Performance
During the last five days, there has been a surge of approximately 18.78%. Over the course of the year, American Coastal Insurance Corp shares have jumped approximately 33.72%. Shares of the company reached a 52-week high of $14.38 on 05/21/24 and a 52-week low of $8.82 on 10/09/24. A 50-day SMA is recorded $10.94, while a 200-day SMA reached $11.22. Nevertheless, trading volume fell to 1.07 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for American Coastal Insurance Corp (ACIC)
According to the 24-hour chart, there is a support level at 11.49, which, if violated, would cause prices to drop to 10.33. In the upper region, resistance lies at 13.27. The next price resistance is at 13.89. RSI (Relative Strength Index) is 67.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 2.05%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
