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. Indie Semiconductor Inc shares valued at $9,834 were sold by Wittmann Michael on May 21 ’24. At $6.30 per share, Wittmann Michael sold 1,561 shares. The insider’s holdings dropped to 37,860 shares worth approximately $0.23 million following the completion of this transaction.
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Also, schiller Thomas sold 60,000 shares, netting a total of over 340,800 in proceeds. Following the sale of shares at $5.68 each, the insider now holds 1,039,583 shares.
Before that, Wittmann Michael had sold 1,832 shares from its account. In a trade valued at $9,508, the Chief Operating Officer traded Indie Semiconductor Inc shares for $5.19 each. Upon closing the transaction, the insider’s holdings decreased to 1,832 shares, worth approximately $0.23 million.
As published in a research note from Craig Hallum on February 23, 2024, Indie Semiconductor Inc [INDI] has been retained to a Buy and the price target has been revised to $10. Analysts at CJS Securities started covering the stock with ‘”a Market outperform”‘ outlook in a report released in early December. As of February 14, 2023, B. Riley Securities has increased its “Neutral” rating to a “Buy” for INDI. Earlier on June 15, 2022, B. Riley Securities downgraded its rating. Their new recommendation was “a Neutral” for INDI stock which previously was a “a Buy”.
Analyzing INDI Stock Performance
During the last five days, there has been a surge of approximately 1.14%. Over the course of the year, Indie Semiconductor Inc shares have dropped approximately -23.55%. Shares of the company reached a 52-week high of $7.99 on 01/02/24 and a 52-week low of $4.99 on 04/23/24. A 50-day SMA is recorded $6.14, while a 200-day SMA reached $6.55. Nevertheless, trading volume fell to 1.99 million shares from 1.5 million shares the previous day.
Support And Resistance Levels for Indie Semiconductor Inc (INDI)
According to the 24-hour chart, there is a support level at 5.97, which, if violated, would cause prices to drop to 5.75. In the upper region, resistance lies at 6.57. The next price resistance is at 6.94. RSI (Relative Strength Index) is 52.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 36.77%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
