As of Friday close, SoundHound AI Inc.’s (NASDAQ:SOUN) stock was down -$0.07, moving down -3.83 percent to $1.76. The average number of shares traded per day over the past five days has been 6,403,340 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.2300 fall in that time frame. In the last twenty days, the average volume was 12,540,820, while in the previous 50 days, it was 14,523,729.
Since last month, SOUN stock retreated -55.10%. Shares of the company fell to $1.7400 on 03/17/23, the lowest level in the past month. Since the beginning of this year, SOUN’s stock price has dropped by -0.56% or -$0.0100, and marked a new high 8 times. However, the stock has declined by -90.30% since its 52-week high.
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SOUN stock investors should be aware that SoundHound AI Inc. (SOUN) stock had its last reported insider trading activity 9 days ago on Mar 09. MOHAJER KEYVAN, the CEO of the company, disposed of 95,000 shares for $2.48 on Mar 09. It resulted in a $235,552 divestment by the insider. SHARAN NITESH sold 60,000 shares at an average price of $2.48 on Mar 09. The insider now owns 465,000 shares following the transaction. On Mar 09, Chief Operating Officer ZAGORSEK MICHAEL sold 42,500 shares at $2.48 apiece. The transaction was valued at $105,379.
Financial Health
In the three months ended September 29, SoundHound AI Inc.’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 69.20% percent.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 23.30%. Return on equity (ROE) for the past 12 months was 57.10%.
In SoundHound AI Inc.’s quarter-end financial report for September 29, it reported total debt of $22.51 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SOUN’s revenue rose 99.64% to $6.15 million during the quarter, while net income inched up to $11.19 million. While analysts expected SoundHound AI Inc. to report -$0.16 quarterly earnings, the actual figure was -$0.15 per share, beating the consensus estimate by 6.30%. During the quarter, the company generated -$25.41 million in EBITDA. The liabilities of SoundHound AI Inc. were 78.22 million at the end of its most recent quarter ended September 29, and its total debt was $48.91 million. The value of shareholders’ equity is $197.91 million.
Technical Picture
This quick technical analysis looks at SoundHound AI Inc.’s (SOUN) price momentum. With a historical volatility rate of 127.31%, the RSI 9-day stood at 29.44% on 17 March.
With respect to its five-day moving average, the current SoundHound AI Inc. price is down by -11.56% percent or -$0.2300. At present, SOUN shares trade -51.91% below its 20-day simple moving average and -40.34% percent below its 100-day simple moving average. However, the stock is currently trading approximately +49.15% above its SMA50 and -77.08% below its SMA200.
Stochastic coefficient K was 3.42% and Stochastic coefficient D was 4.14%, while ATR was 0.3883. Given the Stochastic reading of 1.18% for the 14-day period, the RSI (14) reading has been calculated as 36.79%. As of today, the MACD Oscillator reading stands at -0.3594, while the 14-day reading stands at -0.6370.
Analyst Ratings
Cantor Fitzgerald upgraded its rating on SoundHound AI Inc. (NASDAQ: SOUN) to an Overweight in a note to investors on November 30, 2022. The analysts firm previously had a Neutral rating on the stock.SoundHound AI Inc. (SOUN) has been rated Buy by analysts. According to 0 brokerage firms, SOUN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate SoundHound AI Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $4.50, the current consensus forecast for the stock is $3.20 – $5.00. Based on these forecasts, analysts predict SoundHound AI Inc. (SOUN) will achieve an average price target of $4.23.