As this happened, BofA Securities downgraded its Ambev S.A. ADR [ABEV] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early March from “an Overweight” to “an Equal weight”. JP Morgan also remained covering ABEV and has decreased its forecast on March 01, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on December 08, 2023. It rated ABEV as “an Equal-weight” which previously was an “an Underweight”.
Price Performance Review of ABEV
On Tuesday, Ambev S.A. ADR [NYSE:ABEV] saw its stock unchanged to $1.84. Over the last five days, the stock has lost -0.54%. Ambev S.A. ADR shares have fallen nearly -0.54% since the year began. Nevertheless, the stocks have fallen -28.93% over the past one year. While a 52-week high of $2.67 was reached on 01/31/25, a 52-week low of $1.76 was recorded on 01/03/25. SMA at 50 days reached $1.9864, while 200 days put it at $2.1881.
Levels Of Support And Resistance For ABEV Stock
The 24-hour chart illustrates a support level at 1.8180, which if violated will result in even more drops to 1.7960. On the upside, there is a resistance level at 1.8640. A further resistance level may holdings at 1.8880. The Relative Strength Index (RSI) on the 14-day chart is 46.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0176, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.67%. Stochastics %K at 61.11% indicates the stock is a holding.
How much short interest is there in Ambev S.A. ADR?
A steep rise in short interest was recorded in Ambev S.A. ADR stocks on 2025-01-15, dropping by -28.67 million shares to a total of 19.27 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 47.94 million shares. There was a decline of -148.78%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on December 07, 2023 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating .
