Following these proceedings, 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 Wells Fargo’s analysts, who increased its forecast for the stock in early December from “an Equal weight” to “an Overweight”. B. Riley Securities also remained covering ARCC and has decreased its forecast on January 08, 2024 with a “Neutral” recommendation from previously “Buy” rating. B. Riley Securities started covering the stock on June 16, 2023. It rated ARCC as “a Buy”.
Price Performance Review of ARCC
On Monday, Ares Capital Corp [NASDAQ:ARCC] saw its stock fall -0.55% to $23.30. Over the last five days, the stock has gained 0.52%. Ares Capital Corp shares have risen nearly 6.44% since the year began. Nevertheless, the stocks have risen 14.61% over the past one year. While a 52-week high of $23.53 was reached on 01/24/25, a 52-week low of $19.32 was recorded on 01/13/25. SMA at 50 days reached $22.09, while 200 days put it at $21.23.
Levels Of Support And Resistance For ARCC Stock
The 24-hour chart illustrates a support level at 23.18, which if violated will result in even more drops to 23.05. On the upside, there is a resistance level at 23.45. A further resistance level may holdings at 23.59. The Relative Strength Index (RSI) on the 14-day chart is 72.65, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.74%. Stochastics %K at 90.44% 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 2024-12-31, dropping by -0.7 million shares to a total of 16.61 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 17.31 million shares. There was a decline of -4.18%, which implies that there is a negative sentiment for the stock.
