In the last trading session, 18.0 million SoundHound AI Inc. (NASDAQ:SOUN) shares changed hands as the company’s beta touched 0.36. With the company’s per share price at $2.13 changed hands at -$0.02 or -0.93% during last session, the market valuation stood at $517.50M. SOUN’s last price was a discount, traded about -139.91% off its 52-week high of $5.11. The share price had its 52-week low at $0.93, which suggests the last value was 56.34% up since then. When we look at SoundHound AI Inc.’s average trading volume, we note the 10-day average is 10.03 million shares, with the 3-month average coming to 18.41 million.
Analysts gave the SoundHound AI Inc. (SOUN) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended SOUN as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. SoundHound AI Inc.’s EPS for the current quarter is expected to be $Sunoco LP.
SoundHound AI Inc. (NASDAQ:SOUN) trade information
Instantly SOUN was in red as seen at the end of in last trading. With action -7.39%, the performance over the past five days has been red. The drop to weekly highs of 2.39 on Friday, 09/15/23 subtracted -0.93% to the stock’s daily price. The company’s shares are showing year-to-date upside of 20.34%, with the 5-day performance at -7.39% in the red. However, in the 30-day time frame, SoundHound AI Inc. (NASDAQ:SOUN) is -10.88% down. Looking at the short shares, we see there were 26.73 million shares sold at short interest cover period of 1.66 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.05, meaning bulls need an upside of 57.82% from its current market value. According to analyst projections, SOUN’s forecast low is $4.00 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -228.64% plunge from its current level, while the stock would need to soar -87.79% for it to hit the projected low.
SoundHound AI Inc. (SOUN) estimates and forecasts
Data shows that the SoundHound AI Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 16.39% over the past 6 months, a 47.95% in annual growth rate that is considerably higher than the industry average of 7.60%.
The 2023 estimates are for SoundHound AI Inc. earnings to decrease by -80.90%.
SoundHound AI Inc. is expected to release its next quarterly earnings report in October.
SoundHound AI Inc. (NASDAQ:SOUN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.99% of SoundHound AI Inc. shares while 15.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 17.52%. There are 15.77% institutions holding the SoundHound AI Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 5.46% of the shares, roughly 11.1 million SOUN shares worth $50.52 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.68% or 9.52 million shares worth $43.3 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 4.66 million shares estimated at $21.2 million under it, the former controlled 2.29% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.57% of the shares, roughly 3.2 million shares worth around $7.45 million.