SoundHound AI Inc (NASDAQ:SOUN) has a beta value of 3.14 and has seen 27.79 million shares traded in the last trading session. The company, currently valued at $1.60B, closed the last trade at $5.18 per share which meant it lost -$0.09 on the day or -1.71% during that session. The SOUN stock price is -97.88% off its 52-week high price of $10.25 and 71.24% above the 52-week low of $1.49. If we look at the company’s 10-day average daily trading volume, we find that it stood at 44.22 million shares traded. The 3-month trading volume is 61.12 million shares.
SoundHound AI Inc (NASDAQ:SOUN) trade information
Sporting -1.71% in the red in last session, the stock has traded in the red over the last five days, when the SOUN stock price touched $5.18 or saw a rise of 12.79%. Year-to-date, SoundHound AI Inc shares have moved 144.34%, while the 5-day performance has seen it change -12.05%. Over the past 30 days, the shares of SoundHound AI Inc (NASDAQ:SOUN) have changed 2.78%. Short interest in the company has seen 40.45 million shares shorted with days to cover at 0.32.
SoundHound AI Inc (SOUN) estimates and forecasts
Figures show that SoundHound AI Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 162.94% over the past 6 months, with this year growth rate of 21.05%, compared to 10.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 30.80% and 20.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 51.50%.
6 analysts offering their estimates for the company have set an average revenue estimate of $10.1 million for the current quarter. 6 have an estimated revenue figure of $13.77 million for the next quarter concluding in Jun 2024. Year-ago sales stood $6.71 million and $8.06 million respectively for this quarter and the next, and analysts expect sales will grow by 50.60% for the current quarter and 70.80% for the next.
SOUN Dividends
SoundHound AI Inc is expected to release its next earnings report between May 09 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
Insiders own 1.76% of the company shares, while shares held by institutions stand at 21.68% with a share float percentage of 22.07%. Investors are also buoyed by the number of investors in a company, with SoundHound AI Inc having a total of 174 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 11.1 million shares worth more than $50.52 million. As of Jun 29, 2023, Vanguard Group Inc held 5.46% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 9.52 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $43.3 million and represent 4.68% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2023, the former fund manager holds about 2.29% shares in the company for having 4.66 million shares of worth $21.2 million while later fund manager owns 3.2 million shares of worth $8.07 million as of Aug 30, 2023, which makes it owner of about 1.57% of company’s outstanding stock.