Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Indie Semiconductor Inc shares valued at $337,000 were sold by McClymont Donald on May 28 ’24. At $6.74 per share, McClymont Donald sold 50,000 shares. The insider’s holdings dropped to 83,731 shares worth approximately $0.64 million following the completion of this transaction.
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Also, Wittmann Michael sold 1,561 shares, netting a total of over 9,834 in proceeds. Following the sale of shares at $6.30 each, the insider now holds 37,860 shares.
Before that, schiller Thomas had sold 60,000 shares from its account. In a trade valued at $340,800, the CFO and EVP of Strategy traded Indie Semiconductor Inc shares for $5.68 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $7.97 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 13.63%. Over the course of the year, Indie Semiconductor Inc shares have dropped approximately -5.43%. 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 $6.27, while a 200-day SMA reached $6.53. Nevertheless, trading volume fell to 1.99 million shares from 3.56 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 7.50, which, if violated, would cause prices to drop to 7.33. In the upper region, resistance lies at 7.82. The next price resistance is at 7.96. RSI (Relative Strength Index) is 70.94 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.85, which suggests the price will decrease in the coming days. Percent R is at 8.52%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
