In a filing, SoundHound AI Inc revealed its CEO MOHAJER KEYVAN unloaded Company’s shares for reported $0.19 million on Mar 22 ’24. In the deal valued at $6.08 per share,31,665 shares were sold. As a result of this transaction, MOHAJER KEYVAN now holds 1,137,831 shares worth roughly $4.3 million.
Then, STONEHOCKER TIMOTHY sold 5,276 shares, generating $40,605 in total proceeds. Upon selling the shares at $7.70, the Chief Technology Officer now owns 982,584 shares.
Before that, MOHAJER KEYVAN sold 48,837 shares. SoundHound AI Inc shares valued at $408,551 were divested by the CEO at a price of $8.37 per share. As a result of the transaction, MOHAJER KEYVAN now holds 1,169,496 shares, worth roughly $4.42 million.
Cantor Fitzgerald upgraded its SoundHound AI Inc [SOUN] rating to a Neutral from a an Underweight in a research note published recently. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who decreased its forecast for the stock in mid March from “an Overweight” to “an Underweight”. Northland Capital also remained covering SOUN and has decreased its forecast on February 28, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. Ladenburg Thalmann started covering the stock on January 30, 2024. It rated SOUN as “a Buy”.
Price Performance Review of SOUN
On Monday, SoundHound AI Inc [NASDAQ:SOUN] saw its stock jump 6.48% to $3.78. Over the last five days, the stock has lost -4.79%. SoundHound AI Inc shares have risen nearly 78.30% since the year began. Nevertheless, the stocks have risen 46.51% over the past one year. While a 52-week high of $10.25 was reached on 03/14/24, a 52-week low of $1.49 was recorded on 02/06/24. SMA at 50 days reached $5.29, while 200 days put it at $2.94. A total of 19.62 million shares were traded, compared to the trading of 22.47 million shares in the previous session.
Levels Of Support And Resistance For SOUN Stock
The 24-hour chart illustrates a support level at 3.58, which if violated will result in even more drops to 3.37. On the upside, there is a resistance level at 3.91. A further resistance level may holdings at 4.03. The Relative Strength Index (RSI) on the 14-day chart is 35.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.83%. Stochastics %K at 6.39% indicates the stock is a buying.
The most recent change occurred on September 27, 2023 when DA Davidson began covering the stock and recommended ‘”a Buy”‘ rating along with a $5 price target.
