Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SoundHound AI Inc shares valued at $193,853 were sold by SHARAN NITESH on Sep 20 ’24. At $4.88 per share, SHARAN NITESH sold 39,728 shares. The insider’s holdings dropped to 1,560,411 shares worth approximately $10.89 million following the completion of this transaction.
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Also, ZAGORSEK MICHAEL sold 42,001 shares, netting a total of over 204,944 in proceeds. Following the sale of shares at $4.88 each, the insider now holds 1,473,322 shares.
Before that, STONEHOCKER TIMOTHY had sold 20,337 shares from its account. In a trade valued at $99,234, the Chief Technology Officer traded SoundHound AI Inc shares for $4.88 each. Upon closing the transaction, the insider’s holdings decreased to 20,337 shares, worth approximately $7.25 million.
As published in a research note from Ladenburg Thalmann on November 13, 2024, SoundHound AI Inc [SOUN] has been rated down from a Buy to a Neutral and the price target has been revised to $7. Analysts at Cantor Fitzgerald upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early August. As of April 11, 2024, Cantor Fitzgerald has increased its “an Underweight” rating to a “Neutral” for SOUN. Earlier on March 20, 2024, Cantor Fitzgerald downgraded its rating. Their new recommendation was “an Underweight” for SOUN stock which previously was a “an Overweight”.
Analyzing SOUN Stock Performance
During the last five days, there has been a surge of approximately 5.28%. Over the course of the year, SoundHound AI Inc shares have jumped approximately 229.25%. 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 $5.44, while a 200-day SMA reached $5.04. Nevertheless, trading volume fell to 71.13 million shares from 25.66 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 6.48, which, if violated, would cause prices to drop to 5.98. In the upper region, resistance lies at 7.38. The next price resistance is at 7.78. RSI (Relative Strength Index) is 60.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 29.97%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
