As this happened, Wells Fargo upgraded its Ares Capital Corp [ARCC] rating to an Overweight from a an Equal weight in a research note published recently. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Neutral”. B. Riley Securities began covering ARCC with “Buy” recommendation on June 16, 2023. Wells Fargo revised its rating on April 18, 2023. It rated ARCC as “an Equal weight” which previously was an “an Overweight”.
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Price Performance Review of ARCC
On Tuesday, Ares Capital Corp [NASDAQ:ARCC] saw its stock jump 0.36% to $22.18. Over the last five days, the stock has gained 0.82%. Ares Capital Corp shares have risen nearly 10.73% since the year began. Nevertheless, the stocks have risen 11.35% over the past one year. While a 52-week high of $22.30 was reached on 12/02/24, a 52-week low of $19.32 was recorded on 08/05/24. SMA at 50 days reached $21.41, while 200 days put it at $20.90.
Levels Of Support And Resistance For ARCC Stock
The 24-hour chart illustrates a support level at 22.09, which if violated will result in even more drops to 22.01. On the upside, there is a resistance level at 22.25. A further resistance level may holdings at 22.33. The Relative Strength Index (RSI) on the 14-day chart is 69.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.79%. Stochastics %K at 85.18% indicates the stock is a selling.
How much short interest is there in Ares Capital Corp?
A steep rise in short interest was recorded in Ares Capital Corp stocks on 2024-11-15, dropping by -0.99 million shares to a total of 15.59 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 16.58 million shares. There was a decline of -6.33%, which implies that there is a negative sentiment for the stock.
