SoundHound AI Inc’s filing revealed that its Director MARCUS LAWRENCE unloaded Company’s shares for reported $0.21 million on Nov 21 ’24. In the deal valued at $7.15 per share,30,000 shares were sold. As a result of this transaction, MARCUS LAWRENCE now holds 178,117 shares worth roughly $1.43 million.
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Then, MARCUS LAWRENCE sold 25,000 shares, generating $187,500 in total proceeds. Upon selling the shares at $7.50, the Director now owns 153,117 shares.
Before that, Ball Eric R. sold 70,000 shares. SoundHound AI Inc shares valued at $568,456 were divested by the Director at a price of $8.12 per share. As a result of the transaction, Ball Eric R. now holds 501,756 shares, worth roughly $4.03 million.
Ladenburg Thalmann downgraded its SoundHound AI Inc [SOUN] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who increased its forecast for the stock in early August from “a Neutral” to “an Overweight”. Cantor Fitzgerald also remained covering SOUN and has increased its forecast on April 11, 2024 with a “Neutral” recommendation from previously “an Underweight” rating. Cantor Fitzgerald revised its rating on March 20, 2024. It rated SOUN as “an Underweight” which previously was an “an Overweight”.
Price Performance Review of SOUN
On Monday, SoundHound AI Inc [NASDAQ:SOUN] saw its stock fall -2.67% to $8.03. Over the last five days, the stock has gained 29.73%. SoundHound AI Inc shares have risen nearly 278.77% since the year began. Nevertheless, the stocks have risen 271.76% over the past one year. While a 52-week high of $10.25 was reached on 03/14/24, a 52-week low of $1.62 was recorded on 02/06/24. SMA at 50 days reached $5.57, while 200 days put it at $5.10.
Levels Of Support And Resistance For SOUN Stock
The 24-hour chart illustrates a support level at 7.64, which if violated will result in even more drops to 7.26. On the upside, there is a resistance level at 8.64. A further resistance level may holdings at 9.26. The Relative Strength Index (RSI) on the 14-day chart is 66.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.84, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 24.28%. Stochastics %K at 79.52% indicates the stock is a holding.
How much short interest is there in SoundHound AI Inc?
A steep rise in short interest was recorded in SoundHound AI Inc stocks on 2024-10-31, dropping by -0.55 million shares to a total of 77.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 78.33 million shares. There was a decline of -0.71%, which implies that there is a negative sentiment for the stock.
