The stock of Ambac Financial Group, Inc. (NASDAQ:AMBC) hit a new 52-week high and has $24.38 target or 23.00% above today’s $19.82 share price. The 7 months bullish chart indicates low risk for the $870.40M company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $24.38 price target is reached, the company will be worth $200.19 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 67,718 shares traded hands. Ambac Financial Group, Inc. (NASDAQ:AMBC) has risen 21.32% since March 16, 2016 and is uptrending. It has outperformed by 15.78% the S&P500.
Analysts await Ambac Financial Group, Inc. (NASDAQ:AMBC) to report earnings on November, 14.
According to Zacks Investment Research, “Ambac Financial Group, Inc. is a holding company which provides financial guarantees and other financial services to clients in both the public and private sectors globally, through its subsidiaries. It provides financial guarantee insurance and other credit enhancement products, such as credit derivatives, financial and investment products, including investment agreements, derivative products and funding conduits. Ambac Financial Group, Inc. is headquartered in New York City, United States.”
More notable recent Ambac Financial Group, Inc. (NASDAQ:AMBC) news were published by: Marketwatch.com which released: “Ambac Financial Group Inc.” on May 12, 2013, also Quotes.Wsj.com with their article: “News Ambac Financial Group Inc.AMBC” published on May 01, 2013, Reuters.com published: “JPMorgan to pay Ambac $995 million to settle RMBS-related claims” on January 26, 2016. More interesting news about Ambac Financial Group, Inc. (NASDAQ:AMBC) were released by: Prnewswire.com and their article: “Activist Shareholder requests Ambac Financial Group Inc. hire Investment …” published on August 29, 2016 as well as Prnewswire.com‘s news article titled: “Open Letter to Members of the Board of Directors of Ambac Financial Group, Inc.” with publication date: November 17, 2015.
AMBC Company Profile
Ambac Financial Group, Inc. (Ambac), incorporated on April 29, 1991, is a financial services holding company. Ambac has two divisions: Financial Guarantee and Financial Services. The Financial Guarantee segment includes insurance policies and credit derivative contracts. The Financial Services business segment provides financial and investment products, including investment agreements, funding conduits and interest rate swaps, principally to the clients of its financial guarantee business. The Company’s subsidiaries, Ambac Assurance Corporation (Ambac Assurance), Everspan Financial Guarantee Corp. and Ambac Assurance UK Limited (Ambac UK), provide financial guarantees and other financial services to clients in both the public and private sectors across the world.
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