Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SoundHound AI Inc shares valued at $1,196,478 were sold by STONEHOCKER TIMOTHY on Jul 11 ’24. At $5.75 per share, STONEHOCKER TIMOTHY sold 208,000 shares. The insider’s holdings dropped to 659,531 shares worth approximately $3.0 million following the completion of this transaction.
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Also, MOHAJER KEYVAN sold 116,504 shares, netting a total of over 459,853 in proceeds. Following the sale of shares at $3.95 each, the insider now holds 953,333 shares.
Before that, MOHAJER KEYVAN had sold 67,994 shares from its account. In a trade valued at $274,689, the CEO traded SoundHound AI Inc shares for $4.04 each. Upon closing the transaction, the insider’s holdings decreased to 67,994 shares, worth approximately $4.87 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 drop of approximately -17.12%. Over the course of the year, SoundHound AI Inc shares have jumped approximately 114.62%. 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 $4.75, while a 200-day SMA reached $3.66. Nevertheless, trading volume fell to 14.78 million shares from 14.07 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 4.43, which, if violated, would cause prices to drop to 4.32. In the upper region, resistance lies at 4.77. The next price resistance is at 4.99. RSI (Relative Strength Index) is 45.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 73.64%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
