SoundHound AI Inc. (NASDAQ:SOUN) saw a downside of -1.97% to close Tuesday at $1.99 after subtracting -$0.04 on the day. The 5-day average trading volume is 12,212,659 shares of the company’s common stock. It has gained $2.38 in the past week and touched a new high 1 time within the past 5 days. An average of 17,433,119 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 19,090,588.
SOUN’s 1-month performance is -47.21% or -$1.64 on its low of $1.90 reached on 08/08/23. The company’s shares have touched a 52-week low of $0.93 and high of $5.11, with the stock’s rally to the 52-week high happening on 06/29/23. YTD, SOUN has achieved 12.43% or $0.22 and has reached a new high 9 times. However, the current price is down -61.06% from the 52-week high price.
Insider Transactions
SOUN stock investors last saw insider trading activity on Jul 21.STONEHOCKER TIMOTHY (Chief Technology Officer) most recently sold 3,261 shares at $3.16 per share on Jul 21. This transaction cost the insider $10,318. VP, Engineering, EMAMI MAJID, sold 68,333 shares at a price of $4.42 on Jun 30. Then, on Jun 29, Chief Technology Officer STONEHOCKER TIMOTHY sold 10,000 shares at a price of $5.00 per share. This transaction amounted to $50,000.
Valuation Metrics
SOUN stock has a beta of 0.44. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 13.59.
SoundHound AI Inc.’s quick ratio for the period ended March 30 was 1.30, with the current ratio over the same period at 1.30.. In terms of profitability, the gross margin trailing 12 months is 70.80%. The firm’s gross profit as reported stood at $21.53 million against revenue of $31.13 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 98.52% to -$26.37 million, while revenue of -$55.4 million was -110.09% off the previous quarter. Analysts expected SOUN to announce -$0.12 per share in earnings in its latest quarter, but it posted -$0.13, representing a -8.30% surprise. EBITDA for the quarter stood at more than -$23.42 million. SOUN stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 70.42 million, with total debt at $39.31 million. Shareholders hold equity totaling $216.95 million.
Let’s look briefly at SoundHound AI Inc. (SOUN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 24.25% to suggest the stock is trending oversold, with historical volatility in this time period at 71.20%.
The stock’s 5-day moving average is $2.12, reflecting a -16.74% or -$0.40 change from its current price. SOUN is currently trading -43.63% above its 20-day SMA, +7.57% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -33.22% and SMA200 by-36.42%.
Stochastic %K and %D was 3.72% and 4.89% and the average true range (ATR) pointed at 0.27. The RSI (14) points at 30.65%, while the 14-day stochastic is at 5.42% with the period’s ATR at 0.31. The stock’s 9-day MACD Oscillator is pointing at -0.18 and -0.39 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for SoundHound AI Inc. (NASDAQ: SOUN), Cantor Fitzgerald upgraded it to an Overweight rating. They previously had a Neutral rating on the stock.
What is SOUN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $4.50 and a high of $7.00, with their median price target at $6.20. Looking at these predictions, the average price target given by analysts is for SoundHound AI Inc. (SOUN) stock is $5.90.
