The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cerence Inc shares valued at $76,744 were sold by BEAUDOIN THOMAS L on Apr 01 ’24. At $15.35 per share, BEAUDOIN THOMAS L sold 5,000 shares. The insider’s holdings dropped to 252,921 shares worth approximately $2.62 million following the completion of this transaction.
Also, Ortmanns Stefan sold 15,389 shares, netting a total of over 228,043 in proceeds. Following the sale of shares at $14.82 each, the insider now holds 537,150 shares.
Before that, BEAUDOIN THOMAS L had sold 5,000 shares from its account. In a trade valued at $74,926, the Director traded Cerence Inc shares for $14.99 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $2.67 million.
As published in a research note from Craig Hallum on February 07, 2024, Cerence Inc [CRNC] has been rated down from a Buy to a Hold and the price target has been revised to $22. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early February. As of August 10, 2022, Raymond James has decreased its “an Outperform” rating to a “Mkt perform” for CRNC. Earlier on August 10, 2022, Craig Hallum downgraded its rating. Their new recommendation was “a Hold” for CRNC stock which previously was a “a Buy”.
Analyzing CRNC Stock Performance
During the last five days, there has been a drop of approximately -24.34%. Over the course of the year, Cerence Inc shares have dropped approximately -47.36%. Shares of the company reached a 52-week high of $21.67 on 02/06/24 and a 52-week low of $10.16 on 04/18/24. A 50-day SMA is recorded $14.52, while a 200-day SMA reached $19.34. Nevertheless, trading volume fell to 0.55 million shares from 0.51 million shares the previous day.
Support And Resistance Levels for Cerence Inc (CRNC)
According to the 24-hour chart, there is a support level at 10.08, which, if violated, would cause prices to drop to 9.82. In the upper region, resistance lies at 10.69. The next price resistance is at 11.04. RSI (Relative Strength Index) is 23.13 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.56, which suggests the price will decrease in the coming days. Percent R is at 96.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
