SoundHound AI Inc (NASDAQ:SOUN)’s traded shares stood at 39.28 million during the last session, with the company’s beta value hitting 3.08. At the close of trading, the stock’s price was $5.89, to imply a decrease of -0.67% or -$0.04 in intraday trading. The SOUN share’s 52-week high remains $10.25, putting it -74.02% down since that peak but still an impressive 74.7% since price per share fell to its 52-week low of $1.49. The company has a valuation of $1.82B, with an average of 81.16 million shares in intraday trading volume over the past 10 days and average of 59.06 million shares over the past 3 months.
SoundHound AI Inc (NASDAQ:SOUN) trade information
After registering a -0.67% downside in the last session, SoundHound AI Inc (SOUN) has traded red over the past five days. The stock hit a weekly high of 6.45, dropping -0.67% in its intraday price action. The 5-day price performance for the stock is -11.83%, and -7.10% over 30 days. With these gigs, the year-to-date price performance is 177.83%. Short interest in SoundHound AI Inc (NASDAQ:SOUN) saw shorts transact 40.45 million shares and set a 0.32 days time to cover.
SoundHound AI Inc (SOUN) estimates and forecasts
Looking at statistics comparing SoundHound AI Inc share performance against respective industry, we note that the company has outperformed competitors. SoundHound AI Inc (SOUN) shares are 227.22% up over the last 6 months, with its year-to-date growth rate higher than industry average at 23.68% against 5.70%. Revenue is forecast to grow 30.80% this quarter before jumping 20.00% for the next one. The rating firms project that company’s revenue will grow 51.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is $10.1 million. Meanwhile, for the quarter ending Jun 2024, a total of 6 analyst(s) estimate revenue growth to $13.77 million.Earnings reports from the last fiscal year show that sales brought in $6.71 million and $8.06 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 50.60% before jumping 70.80% in the following quarter.
SOUN Dividends
SoundHound AI Inc has its next earnings report out between May 09 and May 13. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. SoundHound AI Inc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
SoundHound AI Inc insiders hold 1.76% of total outstanding shares, with institutional holders owning 21.68% of the shares at 22.07% float percentage. In total, 21.68% institutions holds shares in the company, led by Vanguard Group Inc. As of Jun 29, 2023, the company held over 11.1 million shares (or 5.46% of shares), all amounting to roughly $50.52 million.
The next major institution holding the largest number of shares is Blackrock Inc. with 9.52 million shares, or about 4.68% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $43.3 million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the SoundHound AI Inc (SOUN) shares. Going by data provided on Jun 29, 2023, Vanguard Total Stock Market Index Fund holds roughly 4.66 million shares. This is just over 2.29% of the total shares, with a market valuation of $21.2 million. Data from the same date shows that the other fund manager holds a little less at 3.2 million, or 1.57% of the shares, all valued at about 8.07 million.
