Check Out What Whales Are Doing With MRVL
Portfolio Pulse from Benzinga Insights
Whales have shown a bearish stance on Marvell Tech (NASDAQ:MRVL), with 61% of detected trades being bearish. The options trading activity indicates a focus on a price band between $50.0 and $90.0. Despite this, analysts have set an average target price of $89.8 for MRVL, with mixed ratings from various firms. The stock is currently down by -4.77%, with a trading volume of 14,439,124 and an RSI suggesting it may be approaching oversold territory. The next earnings report is due in 34 days.
April 19, 2024 | 8:16 pm
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NEUTRAL IMPACT
Bearish whale activity contrasts with optimistic analyst target prices, amidst a current stock dip and approaching earnings report.
The bearish sentiment from option traders, especially with a high volume of puts, could indicate short-term pressure on MRVL's stock price. However, the optimistic target prices from analysts and the upcoming earnings report could counterbalance this sentiment. The stock's current dip and RSI indication of being potentially oversold suggest a complex short-term outlook, making the impact neutral as these factors could either stabilize or further depress the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100