Market Overview

Ambarella Sharply Lower After Pacific Crest Downgrade

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Ambarella Inc (NASDAQ: AMBA) shares are trading lower by $4.10 at $60.95 early in Tuesday's session. The catalyst for the 7-percent decline appears to be the downgrade from Pacific Crest. Before the open, the company lowered its rating on the issue from Overweight to Sector Weight.

After a lower open, it had a brief bounce to $61.91 before continuing its move lower. So far, the ensuing decline has taken the issue to $60.01, and it is attempting to rebound — marking the lowest level for the issue since May 18, when it bottomed at $59.54.

Latest Ratings for AMBA

DateFirmActionFromTo
Aug 2019MaintainsNeutral
Aug 2019MaintainsOutperform
Aug 2019MaintainsOverweight

View More Analyst Ratings for AMBA
View the Latest Analyst Ratings

Posted-In: Pacific CrestDowngrades Technicals Intraday Update Analyst Ratings Movers Tech Trading Ideas

 

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