SoundHound AI Inc’s recently made public that its Chief Financial Officer SHARAN NITESH unloaded Company’s shares for reported $0.19 million on Sep 20 ’24. In the deal valued at $4.88 per share,39,728 shares were sold. As a result of this transaction, SHARAN NITESH now holds 1,560,411 shares worth roughly $7.94 million.
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Then, ZAGORSEK MICHAEL sold 42,001 shares, generating $204,944 in total proceeds. Upon selling the shares at $4.88, the Chief Operating Officer now owns 1,473,322 shares.
Before that, STONEHOCKER TIMOTHY sold 20,337 shares. SoundHound AI Inc shares valued at $99,234 were divested by the Chief Technology Officer at a price of $4.88 per share. As a result of the transaction, STONEHOCKER TIMOTHY now holds 1,039,194 shares, worth roughly $5.29 million.
Cantor Fitzgerald upgraded its SoundHound AI Inc [SOUN] rating to an Overweight from a a Neutral in a research note published on August 09, 2024; the price target was increased to $7 from $5. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who increased its forecast for the stock in mid April from “an Underweight” to “a Neutral”. Cantor Fitzgerald also remained covering SOUN and has decreased its forecast on March 20, 2024 with a “an Underweight” recommendation from previously “an Overweight” rating. Northland Capital revised its rating on February 28, 2024. It rated SOUN as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of SOUN
On Monday, SoundHound AI Inc [NASDAQ:SOUN] saw its stock fall -0.97% to $5.09. Over the last five days, the stock has lost -16.83%. SoundHound AI Inc shares have risen nearly 140.09% since the year began. Nevertheless, the stocks have risen 195.93% over the past one year. While a 52-week high of $10.25 was reached on 03/14/24, a 52-week low of $1.60 was recorded on 02/06/24. SMA at 50 days reached $4.95, while 200 days put it at $4.73.
Levels Of Support And Resistance For SOUN Stock
The 24-hour chart illustrates a support level at 4.98, which if violated will result in even more drops to 4.87. On the upside, there is a resistance level at 5.19. A further resistance level may holdings at 5.30. The Relative Strength Index (RSI) on the 14-day chart is 48.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.45%. Stochastics %K at 16.31% indicates the stock is a buying.
How much short interest is there in SoundHound AI Inc?
A steep rise in short interest was recorded in SoundHound AI Inc stocks on 2024-10-15, dropping by -4.08 million shares to a total of 74.42 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 78.5 million shares. There was a decline of -5.48%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 30, 2024 when Ladenburg Thalmann began covering the stock and recommended ‘”a Buy”‘ rating along with a $4 price target.
