SoundHound AI Inc (NASDAQ: SOUN) is 183.49% higher on its value in year-to-date trading and has touched a low of $1.51 and a high of $10.25 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 $6.12 in the last trading session, with the day’s loss setting it -0.11%.
Currently trading at $6.01, the stock is 17.13% and 21.54% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 34.81 million and changing -1.80% at the moment leaves the stock 28.87% off its SMA200. SOUN registered 282.80% gain for a year compared to 6-month gain of 41.75%. The firm has a 50-day simple moving average (SMA 50) of $4.9448 and a 200-day simple moving average (SMA200) of $4.6635.
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The stock witnessed a 28.97% loss in the last 1 month and extending the period to 3 months gives it a 18.07%, and is 14.04% 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 8.77% over the week and 6.73% over the month.
SoundHound AI Inc (SOUN) has around 260 employees, a market worth around $2.16B and $55.47M in sales. Profit margin for the company is -198.59%. Distance from 52-week low is 298.09% and -41.37% from its 52-week high. The company has generated returns on investments over the last 12 months (-48.72%).
The EPS is expected to grow by 12.14% this year.
SoundHound AI Inc (SOUN) Top Institutional Holders
341.0 institutions hold shares in SoundHound AI Inc (SOUN), with institutional investors hold 28.66% of the company’s shares. The shares outstanding are 358.73M, and float is at 313.03M with Short Float at 23.77%. Institutions hold 28.00% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 22.69 million shares valued at $89.62 million. The investor’s holdings represent 7.9168% of the SOUN Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 21.44 million shares valued at $84.7 million to account for 7.4821 of the shares outstanding. The other top investors are STATE STREET CORP which holds 7.15 million shares representing 2.4964% and valued at over $28.26 million, while GEODE CAPITAL MANAGEMENT, LLC holds 2.2998 of the shares totaling 6.59 million with a market value of $26.04 million.
SoundHound AI Inc (SOUN) Insider Activity
The most recent transaction is an insider sale by SHARAN NITESH, the company’s Chief Financial Officer. SEC filings show that SHARAN NITESH sold 39,728 shares of the company’s common stock on Sep 20 ’24 at a price of $4.88 per share for a total of $0.19 million. Following the sale, the insider now owns 1.56 million shares.
SoundHound AI Inc disclosed in a document filed with the SEC on Sep 20 ’24 that ZAGORSEK MICHAEL (Chief Operating Officer) sold a total of 42,001 shares of the company’s common stock. The trade occurred on Sep 20 ’24 and was made at $4.88 per share for $0.2 million. Following the transaction, the insider now directly holds 1.47 million shares of the SOUN stock.
Still, SEC filings show that on Sep 20 ’24, STONEHOCKER TIMOTHY (Chief Technology Officer) disposed off 20,337 shares at an average price of $4.88 for $99234.0. The insider now directly holds 1,039,194 shares of SoundHound AI Inc (SOUN).
