Stifel Nicolaus slashes price target on Credit Suisse Asset Management Income Fund Inc. [CIK] – find out why.

Credit Suisse Asset Management Income Fund Inc. [AMEX: CIK] slipped around 0.0 points on Thursday, while shares priced at $2.71 at the close of the session, down 0.00%. Credit Suisse Asset Management Income Fund Inc. stock is now -15.84% down from its year-to-date (YTD) trading value. The company’s 52-week high price is 3.45, which means current price is +37.56% above from all time high which was touched on 02/20/20.

Compared to the average trading volume of 373.13K shares, CIK reached a trading volume of 2106982 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Credit Suisse Asset Management Income Fund Inc. [CIK]?

Stifel Nicolaus have made an estimate for Credit Suisse Asset Management Income Fund Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 01, 2007.

The Average True Range (ATR) for Credit Suisse Asset Management Income Fund Inc. is set at 0.07, with the Price to Sales ratio for CIK stock in the period of the last 12 months amounting to 8.34. The Price to Book ratio for the last quarter was 0.78.

How has CIK stock performed recently?

Credit Suisse Asset Management Income Fund Inc. [CIK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.88. With this latest performance, CIK shares gained by 8.84% in over the last four-week period, additionally sinking by -16.62% over the last 6 months – not to mention a drop of -12.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIK stock in for the last two-week period is set at 57.08, with the RSI for the last a single of trading hit 53.60, and the three-weeks RSI is set at 54.98 for Credit Suisse Asset Management Income Fund Inc. [CIK]. The present Moving Average for the last 50 days of trading for this stock 2.58, while it was recorded at 2.71 for the last single week of trading, and 2.97 for the last 200 days.

Credit Suisse Asset Management Income Fund Inc. [CIK]: Deeper insight into the fundamentals

Insider trade positions for Credit Suisse Asset Management Income Fund Inc. [CIK]

There are presently around $17 million, or 26.11% of CIK stock, in the hands of institutional investors. The top three institutional holders of CIK stocks are: LPL FINANCIAL LLC with ownership of 1,052,055, which is approximately 4.637% of the company’s market cap and around 0.71% of the total institutional ownership; SABA CAPITAL MANAGEMENT, L.P., holding 783,964 shares of the stock with an approximate value of $2.13 million in CIK stocks shares; and SIT INVESTMENT ASSOCIATES INC, currently with $2.04 million in CIK stock with ownership of nearly 15.042% of the company’s market capitalization.

25 institutional holders increased their position in Credit Suisse Asset Management Income Fund Inc. [AMEX:CIK] by around 1,751,643 shares. Additionally, 20 investors decreased positions by around 337,708 shares, while 15 investors held positions by with 4,273,918 shares. The mentioned changes placed institutional holdings at 6,363,269 shares, according to the latest SEC report filing. CIK stock had 9 new institutional investments in for a total of 1,123,604 shares, while 8 institutional investors sold positions of 218,196 shares during the same period.

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