Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Veeco Instruments Inc shares valued at $81,575 were sold by KIERNAN JOHN P on Oct 10 ’24. At $32.63 per share, KIERNAN JOHN P sold 2,500 shares. The insider’s holdings dropped to 82,642 shares worth approximately $2.48 million following the completion of this transaction.
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Also, KIERNAN JOHN P sold 2,500 shares, netting a total of over 72,598 in proceeds. Following the sale of shares at $29.04 each, the insider now holds 85,142 shares.
Before that, John Kiernan had added 7,500 shares to its account. In a trade valued at $221,550, the Officer bought Veeco Instruments Inc shares for $29.54 each.
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 2.53%. Over the course of the year, Veeco Instruments Inc shares have dropped approximately -3.42%. 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 $32.12, while a 200-day SMA reached $36.60. Nevertheless, trading volume fell to 1.79 million shares from 0.63 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 29.35, which, if violated, would cause prices to drop to 28.73. In the upper region, resistance lies at 30.31. The next price resistance is at 30.65. RSI (Relative Strength Index) is 40.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 78.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
