Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SoundHound AI Inc shares valued at $851,692 were sold by EMAMI MAJID on Dec 02 ’24. At $9.05 per share, EMAMI MAJID sold 94,067 shares. The insider’s holdings dropped to 735,685 shares worth approximately $7.47 million following the completion of this transaction.
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Also, JAMES M HOM purchased 53,891 shares, netting a total of over 478,552 in proceeds.
Before that, SEYED MAJID EMAMI had added 94,067 shares to its account. In a trade valued at $875,764, the Officer bought SoundHound AI Inc shares for $9.31 each.
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 33.38%. Over the course of the year, SoundHound AI Inc shares have jumped approximately 378.77%. 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 $6.04, while a 200-day SMA reached $5.28. Nevertheless, trading volume fell to 84.57 million shares from 40.54 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 9.33, which, if violated, would cause prices to drop to 8.51. In the upper region, resistance lies at 10.58. The next price resistance is at 11.01. RSI (Relative Strength Index) is 72.69 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.60, which suggests the price will increase in the coming days. Percent R is at 0.95%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
