INDI (indie Semiconductor Inc.) may reap gains as insiders became active recently


indie Semiconductor Inc.’s recent filing unveils that its CFO and EVP of Strategy schiller Thomas unloaded Company’s shares for reported $0.35 million on Aug 02. In the deal valued at $8.77 per share,40,000 shares were sold. As a result of this transaction, schiller Thomas now holds 1,151,280 shares worth roughly $ 7.96 million.

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Then, schiller Thomas sold 30,000 shares, generating $281,100 in total proceeds. Upon selling the shares at $9.37, the CFO and EVP of Strategy now owns 1,191,280 shares.

Before that, Parekh Sonalee Elizabeth sold 19,000 shares. indie Semiconductor Inc. shares valued at $201,590 were divested by the Director at a price of $10.61 per share. As a result of the transaction, Parekh Sonalee Elizabeth now holds 31,000 shares, worth roughly $0.21 million.

B. Riley Securities upgraded its indie Semiconductor Inc. [INDI] rating to a Buy from a a Neutral in a research note published on Friday, February 14, 2023; the price target was increased to $13 from $10. PT values the company’s stock at a premium of 46.85 to its Friday closing price.

Price Performance Review of INDI

On Friday, indie Semiconductor Inc. [NASDAQ:INDI] saw its stock jump 3.13% to $6.91. On the same session, the stock had its day’s lowest price of $6.63, but rose to a high of $6.935. Over the last five days, the stock has gained 8.65%. indie Semiconductor Inc. shares have risen nearly 18.52% since the year began. Nevertheless, the stocks have fallen -18.80% over the past one year. While a 52-week high of $11.12 was reached on 03/03/23, a 52-week low of $5.66 was recorded on 01/03/23. SMA at 50 days reached $8.38, while 200 days put it at $8.53. A total of 1.47 million shares were traded, compared to the trading of 1.68 million shares in the previous session.

Levels Of Support And Resistance For INDI Stock

The 24-hour chart illustrates a support level at 6.72, which if violated will result in even more drops to 6.52. On the upside, there is a resistance level at 7.02. A further resistance level may holdings at 7.13. The Relative Strength Index (RSI) on the 14-day chart is 38.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.83%. Stochastics %K at 46.23% indicates the stock is a holding.

How much short interest is there in indie Semiconductor Inc.?

A steep rise in short interest was recorded in indie Semiconductor Inc. stocks on Aug 14, 2023, growing by 70000.0 shares to a total of 14.43 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.36 million shares. There was a rise of 0.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.17% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.17.

According to FactSet, indie Semiconductor Inc.’s share price will average $13.92 in the next year, based on opinions of analysts polled by the firm. This is up nearly 101.49 percent from its previous closing price of $6.70. Analysts expect indie Semiconductor Inc. stock to reach the higher price of $17.00, while the lowest price estimate is $12.00. However, 6 analysts have rated INDI stock as a Buy in their predictions for 2023.


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