SoundHound AI Inc (NASDAQ:SOUN) saw a downside of -3.85% to close Monday at $1.75 after subtracting -$0.07 on the day. The 5-day average trading volume is 8,462,280 shares of the company’s common stock. It has gained $2.2500 in the past week and touched a new high 1 time within the past 5 days. An average of 10,545,850 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 15,034,368.
SOUN’s 1-month performance is -22.91% or -$0.5700 on its low of $1.7100 reached on 09/25/23. 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 lost -1.13% or -$0.0200 and has reached a new high 9 times. However, the current price is down -65.75% from the 52-week high price.
Insider Transactions
SOUN stock investors last saw insider trading activity on Sep 21.STONEHOCKER TIMOTHY (Chief Technology Officer) most recently sold 14,283 shares at $1.93 per share on Sep 21. This transaction cost the insider $27,566. CEO, MOHAJER KEYVAN, sold 53,642 shares at a price of $2.07 on Sep 15. Then, on Sep 15, Chief Operating Officer ZAGORSEK MICHAEL sold 27,533 shares at a price of $2.07 per share. This transaction amounted to $56,993.
Valuation Metrics
SOUN stock has a beta of 0.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.81 while the price-to-book (PB) in the most recent quarter is 29.37.
SoundHound AI Inc’s quick ratio for the period ended June 29 was 4.70, with the current ratio over the same period at 4.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.83, while the total debt to equity was 1.90. In terms of profitability, the gross margin trailing 12 months is 74.70%. The trailing 12-month EBITDA margin is -315.40% while for the period ending June 29, SoundHound AI Inc’s operating margin was -258.63%. 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 June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -39.85% to -$21.93 million, while revenue of -$26.37 million was -20.25% off the previous quarter. Analysts expected SOUN to announce -$0.11 per share in earnings in its latest quarter, but it posted -$0.1, representing a 9.10% surprise. EBITDA for the quarter stood at more than -$14.93 million. SOUN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 118.79 million, with total debt at $73.88 million. Shareholders hold equity totaling $240.71 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 25 September was 21.42% to suggest the stock is trending oversold, with historical volatility in this time period at 51.45%.
The stock’s 5-day moving average is $1.9300, reflecting a -22.22% or -$0.5000 change from its current price. SOUN is currently trading -24.57% above its 20-day SMA, -26.47% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -49.57% and SMA200 by+35.66%.
Stochastic %K and %D was 2.93% and 3.48% and the average true range (ATR) pointed at 0.1695. The RSI (14) points at 29.45%, while the 14-day stochastic is at 4.82% with the period’s ATR at 0.1872. The stock’s 9-day MACD Oscillator is pointing at -0.2222 and -0.3162 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for SoundHound AI Inc (NASDAQ: SOUN), H.C. Wainwright launched coverage with a Buy rating. Analysts offering their rating for SOUN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate SOUN as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is SOUN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $4.00 and a high of $7.00, with their median price target at $4.60. Looking at these predictions, the average price target given by analysts is for SoundHound AI Inc (SOUN) stock is $5.05.
