As of Friday close, SoundHound AI Inc.’s (NASDAQ:SOUN) stock was down -$0.11, moving down -4.98 percent to $2.10. The average number of shares traded per day over the past five days has been 12,035,200 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.31 fall in that time frame. In the last twenty days, the average volume was 17,662,760, while in the previous 50 days, it was 19,093,135.
Since last month, SOUN stock retreated -40.34%. Shares of the company fell to $2.07 on 08/04/23, the lowest level in the past month. A 52-week high of $5.11 was reached on 06/29/23 after having rallying from a 52-week low of $0.93. Since the beginning of this year, SOUN’s stock price has risen by 18.64% or $0.33, and marked a new high 9 times. However, the stock has declined by -58.90% since its 52-week high.
SOUN stock investors should be aware that SoundHound AI Inc. (SOUN) stock had its last reported insider trading activity 15 days ago on Jul 21. STONEHOCKER TIMOTHY, the Chief Technology Officer of the company, disposed of 3,261 shares for $3.16 on Jul 21. It resulted in a $10,318 divestment by the insider. EMAMI MAJID sold 68,333 shares at an average price of $4.42 on Jun 30. The insider now owns 301,389 shares following the transaction. On Jun 29, Chief Technology Officer STONEHOCKER TIMOTHY sold 10,000 shares at $5.00 apiece. The transaction was valued at $50,000.
Financial Health
In the three months ended March 30, SoundHound AI Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 70.80% percent. Based on annual data, SOUN earned $21.53 million in gross profit and brought in $31.13 million in revenue.
In SoundHound AI Inc.’s quarter-end financial report for March 30, it reported total debt of $14.04 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. SOUN’s revenue rose 98.66% to $13.7 million during the quarter, while net income inched up to $6.71 million. While analysts expected SoundHound AI Inc. to report -$0.12 quarterly earnings, the actual figure was -$0.13 per share, beating the consensus estimate by -8.30%. During the quarter, the company generated -$23.42 million in EBITDA. The liabilities of SoundHound AI Inc. were 70.42 million at the end of its most recent quarter ended March 30, and its total debt was $39.31 million. The value of shareholders’ equity is $216.95 million.
Technical Picture
This quick technical analysis looks at SoundHound AI Inc.’s (SOUN) price momentum. With a historical volatility rate of 130.51%, the RSI 9-day stood at 26.40% on 04 August.
With respect to its five-day moving average, the current SoundHound AI Inc. price is down by -12.86% percent or -$0.31. At present, SOUN shares trade -42.15% below its 20-day simple moving average and +0.96% percent above its 100-day simple moving average. However, the stock is currently trading approximately -28.33% below its SMA50 and -40.00% below its SMA200.
Stochastic coefficient K was 6.58% and Stochastic coefficient D was 10.61%, while ATR was 0.30. Given the Stochastic reading of 1.64% for the 14-day period, the RSI (14) reading has been calculated as 32.16%. As of today, the MACD Oscillator reading stands at -0.11, while the 14-day reading stands at -0.47.
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 $6.20, the current consensus forecast for the stock is $4.50 – $7.00. Based on these forecasts, analysts predict SoundHound AI Inc. (SOUN) will achieve an average price target of $5.90.
