As of Wednesday close, SoundHound AI Inc.’s (NASDAQ:SOUN) stock was down -$0.09, moving down -4.23 percent to $2.04. The average number of shares traded per day over the past five days has been 11,212,120 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.22 fall in that time frame. In the last twenty days, the average volume was 11,120,485, while in the previous 50 days, it was 15,434,592.
Since last month, SOUN stock retreated -13.56%. Shares of the company fell to $2.03 on 09/20/23, 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 15.25% or $0.27, and marked a new high 9 times. However, the stock has declined by -60.08% 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 6 days ago on Sep 15. MOHAJER KEYVAN, the CEO of the company, disposed of 53,642 shares for $2.07 on Sep 15. It resulted in a $111,039 divestment by the insider. ZAGORSEK MICHAEL sold 27,533 shares at an average price of $2.07 on Sep 15. The insider now owns 820,104 shares following the transaction. On Sep 15, Chief Financial Officer SHARAN NITESH sold 22,535 shares at $2.07 apiece. The transaction was valued at $46,647.
Valuation Metrics
The stock’s beta is 0.41. Besides these, the trailing price-to-sales (P/S) ratio of 13.73, the price-to-book (PB) ratio of 34.00.
Financial Health
In the three months ended June 29, SoundHound AI Inc.’s quick ratio stood at 4.70, while its current ratio was 4.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 4.82, and the total debt-to-equity ratio was 4.83. On the profitability front, the trailing twelve-month gross margin is 74.70% 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 June 29, it reported total debt of $66.43 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 29.71% to $6.71 million during the quarter, while net income inched up to $8.75 million. While analysts expected SoundHound AI Inc. to report -$0.11 quarterly earnings, the actual figure was -$0.1 per share, beating the consensus estimate by 9.10%. During the quarter, the company generated -$14.93 million in EBITDA. The liabilities of SoundHound AI Inc. were 118.79 million at the end of its most recent quarter ended June 29, and its total debt was $73.88 million. The value of shareholders’ equity is $240.71 million.
Technical Picture
This quick technical analysis looks at SoundHound AI Inc.’s (SOUN) price momentum. With a historical volatility rate of 49.08%, the RSI 9-day stood at 32.42% on 20 September.
With respect to its five-day moving average, the current SoundHound AI Inc. price is down by -9.73% percent or -$0.22. At present, SOUN shares trade -13.56% below its 20-day simple moving average and -19.69% percent below its 100-day simple moving average. However, the stock is currently trading approximately -42.21% below its SMA50 and +63.20% above its SMA200.
Stochastic coefficient K was 16.15% and Stochastic coefficient D was 17.57%, while ATR was 0.18. Given the Stochastic reading of 1.56% for the 14-day period, the RSI (14) reading has been calculated as 37.37%. As of today, the MACD Oscillator reading stands at -0.06, while the 14-day reading stands at -0.15.
Analyst Ratings
H.C. Wainwright launched its rating on SoundHound AI Inc. (NASDAQ: SOUN) to a Buy in a note to investors on September 05, 2023. 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 4 recommending it as overweight.
With a median target price of $4.60, the current consensus forecast for the stock is $4.00 – $7.00. Based on these forecasts, analysts predict SoundHound AI Inc. (SOUN) will achieve an average price target of $5.05.
