Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SoundHound AI Inc shares valued at $409,436 were sold by MARCUS LAWRENCE on Dec 23 ’24. At $20.47 per share, MARCUS LAWRENCE sold 20,000 shares. The insider’s holdings dropped to 108,117 shares worth approximately $1.62 million following the completion of this transaction.
Also, SROKA DIANA sold 3,402 shares, netting a total of over 77,225 in proceeds. Following the sale of shares at $22.70 each, the insider now holds 142,252 shares.
Before that, MOHAJER KEYVAN had sold 156,288 shares from its account. In a trade valued at $3,157,484, the CEO traded SoundHound AI Inc shares for $20.20 each. Upon closing the transaction, the insider’s holdings decreased to 156,288 shares, worth approximately $30.37 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 drop of approximately -24.29%. Over the course of the year, SoundHound AI Inc shares have dropped approximately -24.29%. Shares of the company reached a 52-week high of $22.85 on 01/06/25 and a 52-week low of $14.54 on 01/08/25. A 50-day SMA is recorded $12.30, while a 200-day SMA reached $6.68. Nevertheless, trading volume fell to 86.52 million shares from 73.85 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 14.01, which, if violated, would cause prices to drop to 12.99. In the upper region, resistance lies at 16.57. The next price resistance is at 18.11. RSI (Relative Strength Index) is 44.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.84, which suggests the price will decrease in the coming days. Percent R is at 95.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
