Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cathay General Bancorp shares valued at $156,810 were sold by TANG ANTHONY M on Nov 06 ’24. At $52.27 per share, TANG ANTHONY M sold 3,000 shares. The insider’s holdings dropped to 196,292 shares worth approximately $10.27 million following the completion of this transaction.
Also, WU PETER sold 40,000 shares, netting a total of over 2,114,800 in proceeds. Following the sale of shares at $52.87 each, the insider now holds 295,252 shares.
Before that, PACJU LLC had added 100,000 shares to its account. In a trade valued at $5,200,000, the Officer bought Cathay General Bancorp shares for $52.00 each.
As published in a research note from Piper Sandler on November 06, 2023, Cathay General Bancorp [CATY] has been rated down from a Neutral to an Underweight and the price target has been revised to $31. Analysts at Stephens started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid July. Earlier on May 02, 2018, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for CATY stock which previously was a “a Neutral”.
Analyzing CATY Stock Performance
During the last five days, there has been a surge of approximately 3.07%. Over the course of the year, Cathay General Bancorp shares have jumped approximately 17.37%. Shares of the company reached a 52-week high of $55.29 on 11/25/24 and a 52-week low of $33.88 on 04/23/24. A 50-day SMA is recorded $46.68, while a 200-day SMA reached $40.81. Nevertheless, trading volume fell to 0.2 million shares from 0.4 million shares the previous day.
Support And Resistance Levels for Cathay General Bancorp (CATY)
According to the 24-hour chart, there is a support level at 51.94, which, if violated, would cause prices to drop to 51.58. In the upper region, resistance lies at 52.98. The next price resistance is at 53.66. RSI (Relative Strength Index) is 61.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.03, which suggests the price will increase in the coming days. Percent R is at 53.55%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
