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The Potential Rise in the Price of SoundHound AI Inc (SOUN) following insiders activity

In a filing, SoundHound AI Inc revealed its CEO MOHAJER KEYVAN unloaded Company’s shares for reported $0.46 million on Jun 24 ’24. In the deal valued at $3.95 per share,116,504 shares were sold. As a result of this transaction, MOHAJER KEYVAN now holds 953,333 shares worth roughly $3.95 million.

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Then, MOHAJER KEYVAN sold 67,994 shares, generating $274,689 in total proceeds. Upon selling the shares at $4.04, the CEO now owns 1,069,837 shares.

Before that, ZAGORSEK MICHAEL sold 24,091 shares. SoundHound AI Inc shares valued at $97,325 were divested by the Chief Operating Officer at a price of $4.04 per share. As a result of the transaction, ZAGORSEK MICHAEL now holds 765,323 shares, worth roughly $3.17 million.

Cantor Fitzgerald upgraded its SoundHound AI Inc [SOUN] rating to a Neutral from a an Underweight in a research note published recently. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who decreased its forecast for the stock in mid March from “an Overweight” to “an Underweight”. Northland Capital also remained covering SOUN and has decreased its forecast on February 28, 2024 with a “Market perform” recommendation from previously “an Outperform” rating. Ladenburg Thalmann started covering the stock on January 30, 2024. It rated SOUN as “a Buy”.

Price Performance Review of SOUN

On Tuesday, SoundHound AI Inc [NASDAQ:SOUN] saw its stock fall -1.43% to $4.14. Over the last five days, the stock has gained 6.43%. SoundHound AI Inc shares have risen nearly 95.28% since the year began. Nevertheless, the stocks have risen 14.05% over the past one year. While a 52-week high of $10.25 was reached on 03/14/24, a 52-week low of $1.49 was recorded on 02/06/24. SMA at 50 days reached $4.62, while 200 days put it at $3.48. A total of 8.53 million shares were traded, compared to the trading of 14.87 million shares in the previous session.

Levels Of Support And Resistance For SOUN Stock

The 24-hour chart illustrates a support level at 4.02, which if violated will result in even more drops to 3.91. On the upside, there is a resistance level at 4.25. A further resistance level may holdings at 4.37. The Relative Strength Index (RSI) on the 14-day chart is 44.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.69%. Stochastics%K at 57.53% indicates the stock is a holding.

The most recent change occurred on September 27, 2023 when DA Davidson began covering the stock and recommended ‘”a Buy”‘ rating along with a $5 price target.

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