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Craig Hallum downgrades Cerence Inc (CRNC) stock to a Hold

CHWY Stock

Cerence Inc’s filing revealed that its Chief Executive Officer Ortmanns Stefan unloaded Company’s shares for reported $0.11 million on Apr 22 ’24. In the deal valued at $10.04 per share,10,762 shares were sold. As a result of this transaction, Ortmanns Stefan now holds 526,388 shares worth roughly $5.08 million.

Then, BEAUDOIN THOMAS L sold 5,000 shares, generating $76,744 in total proceeds. Upon selling the shares at $15.35, the Director now owns 252,921 shares.

Before that, Ortmanns Stefan sold 15,389 shares. Cerence Inc shares valued at $228,043 were divested by the Chief Executive Officer at a price of $14.82 per share. As a result of the transaction, Ortmanns Stefan now holds 537,150 shares, worth roughly $5.18 million.

Craig Hallum downgraded its Cerence Inc [CRNC] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who increased its forecast for the stock in early February from “a Hold” to “a Buy”. Raymond James also remained covering CRNC and has decreased its forecast on August 10, 2022 with a “Mkt perform” recommendation from previously “an Outperform” rating. Craig Hallum revised its rating on August 10, 2022. It rated CRNC as “a Hold” which previously was an “a Buy”.

Price Performance Review of CRNC

On Monday, Cerence Inc [NASDAQ:CRNC] saw its stock fall -0.62% to $9.65. Over the last five days, the stock has gained 0.31%. Cerence Inc shares have fallen nearly -50.92% since the year began. Nevertheless, the stocks have fallen -62.23% over the past one year. While a 52-week high of $36.79 was reached on 02/06/24, a 52-week low of $9.35 was recorded on 04/25/24. SMA at 50 days reached $13.65, while 200 days put it at $18.67. A total of 0.56 million shares were traded, compared to the trading of 0.62 million shares in the previous session.

Levels Of Support And Resistance For CRNC Stock

The 24-hour chart illustrates a support level at 9.48, which if violated will result in even more drops to 9.31. On the upside, there is a resistance level at 9.97. A further resistance level may holdings at 10.29. The Relative Strength Index (RSI) on the 14-day chart is 27.03, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.58%. Stochastics %K at 4.75% indicates the stock is a buying.

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