indie Semiconductor Inc. [INDI] Chief Executive Officer makes an insider purchase of 50,000 shares worth 0.41 million.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. indie Semiconductor Inc. shares valued at $408,500 were sold by McClymont Donald on Sep 16. At $8.17 per share, McClymont Donald sold 50,000 shares. The insider’s holdings dropped to 669 shares worth approximately $5137.92 following the completion of this transaction.


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Also, Kee Scott David sold 50,000 shares, netting a total of over 410,000 in proceeds. Following the sale of shares at $8.20 each, the insider now holds 669 shares.

Before that, schiller Thomas had sold 50,000 shares from its account. In a trade valued at $418,500, the CFO and EVP of Strategy traded indie Semiconductor Inc. shares for $8.37 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $11.93 million.

As published in a research note from B. Riley Securities on June 15, 2022, indie Semiconductor Inc. [INDI] has been rated down from a Buy to a Neutral and the price target has been revised to $8 from $9. This represents a 4.0% premium over Thursday’s closing price. As of October 20, 2021, KeyBanc Capital Markets has initiated its “an Overweight” rating for INDI. Earlier on August 24, 2021, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for INDI stock.

Analyzing INDI’s Price Performance

On Thursday, indie Semiconductor Inc. [NASDAQ: INDI] plunged -3.15% to $7.68. The stock’s lowest price that day was $7.485, but it reached a high of $8.00 in the same session. During the last five days, there has been a drop of approximately -9.00%. Over the course of the year, indie Semiconductor Inc. shares have dropped approximately -35.95%. Shares of the company reached a 52-week high of $12.15 on 01/03/22 and a 52-week low of $5.07 on 05/12/22. A 50-day SMA is recorded $7.66, while a 200-day SMA reached $7.91. Nevertheless, trading volume fell to 1.76 million shares from 1.63 million shares the previous day.

Support And Resistance Levels for indie Semiconductor Inc. (INDI)

According to the 24-hour chart, there is a support level at 7.44, which, if violated, would cause prices to drop to 7.21. In the upper region, resistance lies at 7.96. The next price resistance is at 8.24. RSI (Relative Strength Index) is 42.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 86.41%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is indie Semiconductor Inc. subject to short interest?

Stocks of indie Semiconductor Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.57 million shares to 9.35 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.78 million shares. A jump of 27.49% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.09.

Which companies own the most shares of indie Semiconductor Inc. (INDI)?

According to Soros Fund Management LLC filings, the company currently owns 9,124,894 shares, which is about 7.62% of the total INDI shares outstanding. The investor’s shares have appreciated by 4,769,141 from its previous 13-F filing of 4355753.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $44,095,008. BAMCO, Inc. reduced a -14.51% interest valued at $36.23 million while Summit Partners Public Asset Mana purchased a 31,897 stake. A total of -1,254,869 shares of indie Semiconductor Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 443,000 were bought by The Vanguard Group, Inc.. In its current portfolio, Columbia Management Investment Ad holds 2,306,223 shares valued at $19.63 million.

In terms of indie Semiconductor Inc. share price expectations, FactSet research, analysts set an average price target of $14.17 in the next 12 months, up nearly 70.24% from the previous closing price of $7.93. Analysts anticipate indie Semiconductor Inc. stock to reach $20.00 by 2022, with the lowest price target being $10.00. In spite of this, 6 analysts ranked indie Semiconductor Inc. stock as a Buy at the end of 2022. On August 11, 2021, The Benchmark Company assigned a price target of “a Buy” to the stock and resumed coverage with a $17.

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