Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ambarella Inc shares valued at $168,432 were sold by Day Christopher on Oct 03 ’24. At $58.00 per share, Day Christopher sold 2,904 shares. The insider’s holdings dropped to 18,466 shares worth approximately $1.11 million following the completion of this transaction.
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Also, Day Christopher purchased 2,904 shares, netting a total of over 168,432 in proceeds.
Before that, PAISLEY CHRISTOPHER B had sold 500 shares from its account. In a trade valued at $26,855, the Director traded Ambarella Inc shares for $53.71 each. Upon closing the transaction, the insider’s holdings decreased to 500 shares, worth approximately $2.55 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 1.79%. Over the course of the year, Ambarella Inc shares have dropped approximately -1.65%. 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 $56.40, while a 200-day SMA reached $52.87. Nevertheless, trading volume fell to 0.52 million shares from 0.35 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 58.63, which, if violated, would cause prices to drop to 56.98. In the upper region, resistance lies at 61.39. The next price resistance is at 62.50. RSI (Relative Strength Index) is 57.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 23.97%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
