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. SoundHound AI Inc shares valued at $192,454 were sold by MOHAJER KEYVAN on Mar 22 ’24. At $6.08 per share, MOHAJER KEYVAN sold 31,665 shares. The insider’s holdings dropped to 1,137,831 shares worth approximately $5.4 million following the completion of this transaction.
Also, STONEHOCKER TIMOTHY sold 5,276 shares, netting a total of over 40,605 in proceeds. Following the sale of shares at $7.70 each, the insider now holds 982,584 shares.
Before that, MOHAJER KEYVAN had sold 48,837 shares from its account. In a trade valued at $408,551, the CEO traded SoundHound AI Inc shares for $8.37 each. Upon closing the transaction, the insider’s holdings decreased to 48,837 shares, worth approximately $5.56 million.
As published in a research note from Cantor Fitzgerald on April 11, 2024, SoundHound AI Inc [SOUN] has been rated up from an Underweight to a Neutral and the price target has been revised to $4.90. Analysts at Cantor Fitzgerald downgraded the stock from ‘”an Overweight”‘ to ‘”an Underweight”‘ outlook in a report released in mid March. As of February 28, 2024, Northland Capital has decreased its “an Outperform” rating to a “Market perform” for SOUN. Earlier on January 30, 2024, Ladenburg Thalmann initiated its rating. Their recommendation was “a Buy” for SOUN stock.
Analyzing SOUN Stock Performance
During the last five days, there has been a surge of approximately 5.79%. Over the course of the year, SoundHound AI Inc shares have jumped approximately 124.06%. Shares of the company reached a 52-week high of $10.25 on 03/14/24 and a 52-week low of $1.62 on 02/06/24. A 50-day SMA is recorded $5.44, while a 200-day SMA reached $3.01. Nevertheless, trading volume fell to 31.14 million shares from 33.52 million shares the previous day.
Support And Resistance Levels for SoundHound AI Inc (SOUN)
According to the 24-hour chart, there is a support level at 4.61, which, if violated, would cause prices to drop to 4.47. In the upper region, resistance lies at 4.92. The next price resistance is at 5.08. RSI (Relative Strength Index) is 50.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 33.69%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
