Why Did Nvidia Stock Hit a New All-Time Low?

Shares of technology giant $NVIDIA Corp(NVDA)$ hit a new bottom of $154.01 after regulatory filings revealed that its Director, Mark A Stevens, sold 227,650 shares of the company at prices ranging from $157.07 to $159.

After trading down almost 6.8% during the day, NVDA stock ended the day down 5.6% at $156.01.

Nvidia is one of the biggest players in the semiconductor space and engages in the design and manufacturing of computer graphics processors, chipsets, and other related multimedia software. Its stock has lost 48.2% so far this year.

Stevens made informative Sell calls on NVDA stock worth $35.98 million on June 13 and 14. Stevens now owns 2,640,000 shares of NVDA stock worth $951 million as of date.

According to the TipRanks Insider Trading Tool,insiders at Nvidia have a Very Negative stanceon the stock currently based on five informative Sell transactions totaling a whopping $119.7 million over the last three months.

Stevens’s trading history indicates that he has earned a poor success rate of 31% with an average loss of 69.4% on the calls of NVDA over the past year.

Target Price

Meanwhile, the Wall Street community has a Strong Buy consensus rating on the NVDA stock based on 27 Buys and four Holds. Theaverage Nvidia price targetof $275.27 implies 76.6% upside potential to current levels.

Stock Analysis

Similarly, according to the TipRanks’ Smart Score, Nvidia has a score of nine, indicating that the stock is likely to outperform the market. Likewise, bloggers and news articles are bullish on the stock, and hedge funds have increased their holdings of NVDA stock by 1.3 million shares in the last quarter. Even retail investors have increased their exposure to the stock by 1.2% in the last 30 days.

Ending Thoughts

Although director Stevens’s share sale is signaling negative insider sentiment for NVDA stock, both retail investors and hedge funds clearly have a positive stance on the company. Additionally, analysts have a very strong outlook on the stock’s trajectory, implying that the company is well poised for accelerated future growth.