Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cerence Inc shares valued at $52,946 were sold by BEAUDOIN THOMAS L on May 07 ’24. At $9.69 per share, BEAUDOIN THOMAS L sold 5,464 shares. The insider’s holdings dropped to 242,457 shares worth approximately $1.0 million following the completion of this transaction.
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Also, BEAUDOIN THOMAS L sold 5,000 shares, netting a total of over 45,146 in proceeds. Following the sale of shares at $9.03 each, the insider now holds 247,921 shares.
Before that, Ortmanns Stefan had sold 10,762 shares from its account. In a trade valued at $108,045, the Chief Executive Officer traded Cerence Inc shares for $10.04 each. Upon closing the transaction, the insider’s holdings decreased to 10,762 shares, worth approximately $2.17 million.
As published in a research note from Wells Fargo on May 10, 2024, Cerence Inc [CRNC] has been rated down from an Overweight to an Equal weight and the price target has been revised to $6.50 from $25. As of February 07, 2024, Craig Hallum has decreased its “Buy” rating to a “Hold” for CRNC. Earlier on February 09, 2023, Craig Hallum upgraded its rating. Their new recommendation was “a Buy” for CRNC stock which previously was a “a Hold”.
Analyzing CRNC Stock Performance
During the last five days, there has been a drop of approximately -14.85%. Over the course of the year, Cerence Inc shares have dropped approximately -78.99%. Shares of the company reached a 52-week high of $21.67 on 02/06/24 and a 52-week low of $3.56 on 05/21/24. A 50-day SMA is recorded $10.96, while a 200-day SMA reached $17.00. Nevertheless, trading volume fell to 2.78 million shares from 2.87 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 3.84, which, if violated, would cause prices to drop to 3.54. In the upper region, resistance lies at 4.36. The next price resistance is at 4.58. RSI (Relative Strength Index) is 18.89 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.20, which suggests the price will decrease in the coming days. Percent R is at 91.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
