SoundHound AI Inc (NASDAQ: SOUN) is 226.89% higher on its value in year-to-date trading and has touched a low of $1.49 and a high of $7.91 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SOUN stock was last observed hovering at around $5.98 in the last trading session, with the day’s gains setting it 0.95%.
Currently trading at $6.93, the stock is 44.96% and 127.53% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 91.12 million and changing 15.89% at the moment leaves the stock 165.95% off its SMA200. SOUN registered 248.24% gain for a year compared to 6-month gain of 208.00%. The firm has a 50-day simple moving average (SMA 50) of $46.84 and a 200-day simple moving average (SMA200) of -$34.77.
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The stock witnessed a 206.64% loss in the last 1 month and extending the period to 3 months gives it a 230.00%, and is 39.72% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 14.35% over the week and 16.97% over the month.
SoundHound AI Inc (SOUN) has around 260 employees, a market worth around $1.71B and $45.87M in sales. Profit margin for the company is -191.21%. Distance from 52-week low is 365.10% and -12.38% from its 52-week high. The company has generated returns on investments over the last 12 months (-75.90%).
SoundHound AI Inc quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $10.1M over the same period.The EPS is expected to grow by 28.00% this year, but quarterly earnings will post 51.50% year-over-year. Quarterly sales are estimated to grow 50.60% in year-over-year returns.
SoundHound AI Inc (SOUN) Top Institutional Holders
173 institutions hold shares in SoundHound AI Inc (SOUN), with institutional investors hold 22.07% of the company’s shares. The shares outstanding are 216.94M, and float is at 195.38M with Short Float at 18.40%. Institutions hold 21.66% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 11.1 million shares valued at $50.52 million. The investor’s holdings represent 5.46% of the SOUN Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 9.52 million shares valued at $43.3 million to account for 4.68% of the shares outstanding. The other top investors are Anchorage Capital Group, LLC which holds 3.2 million shares representing 1.57% and valued at over $14.55 million, while Geode Capital Management, LLC holds 1.34% of the shares totaling 2.72 million with a market value of $12.38 million.
SoundHound AI Inc (SOUN) Insider Activity
The most recent transaction is an insider sale by MARCUS LAWRENCE,the company’sDirector. SEC filings show that MARCUS LAWRENCE sold 150,000 shares of the company’s common stock on Mar 04 ’24 at a price of $6.30 per share for a total of $0.95 million. Following the sale, the insider now owns 0.38 million shares.
SoundHound AI Inc disclosed in a document filed with the SEC on Feb 27 ’24 that Ball Eric R. (Director) sold a total of 40,000 shares of the company’s common stock. The trade occurred on Feb 27 ’24 and was made at $7.12 per share for $0.28 million. Following the transaction, the insider now directly holds 0.49 million shares of the SOUN stock.
Still, SEC filings show that on Feb 26 ’24, Ball Eric R. (Director) disposed off 50,000 shares at an average price of $5.00 for $0.25 million. The insider now directly holds 530,250 shares of SoundHound AI Inc (SOUN).
