SoundHound AI Inc (NASDAQ:SOUN) has a beta value of 3.24 and has seen 66.36 million shares traded in the last trading session. The company, currently valued at $3.51B, closed the last trade at $8.03 per share which meant it lost -$0.22 on the day or -2.67% during that session. The SOUN stock price is -27.65% off its 52-week high price of $10.25 and 79.83% above the 52-week low of $1.62. If we look at the company’s 10-day average daily trading volume, we find that it stood at 59.52 million shares traded. The 3-month trading volume is 24.47 million shares.
The consensus among analysts is that SoundHound AI Inc (SOUN) is Buy stock at the moment, with a recommendation rating of 1.67. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 5 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.08.
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SoundHound AI Inc (NASDAQ:SOUN) trade information
Sporting -2.67% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the SOUN stock price touched $8.03 or saw a rise of 9.47%. Year-to-date, SoundHound AI Inc shares have moved 278.77%, while the 5-day performance has seen it change 29.73%. Over the past 30 days, the shares of SoundHound AI Inc (NASDAQ:SOUN) have changed 55.02%. Short interest in the company has seen 77.78 million shares shorted with days to cover at 3.77.
Wall Street analysts have a consensus price target for the stock at $8, which means that the shares’ value could drop -0.37% from current levels. The projected low price target is $7.0 while the price target rests at a high of $9.5. In that case, then, we find that the current price level is -18.31% off the targeted high while a plunge would see the stock lose 12.83% from current levels.
SoundHound AI Inc (SOUN) estimates and forecasts
Figures show that SoundHound AI Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 63.54% over the past 6 months, with this year growth rate of 0.00%, compared to 15.60% for the industry. Revenue growth from the last financial year stood is estimated to be 82.83%.
6 analysts offering their estimates for the company have set an average revenue estimate of 33.73M for the current quarter. 6 have an estimated revenue figure of 32.19M for the next ending quarter. Year-ago sales stood 17.15M and 11.59M respectively for this quarter and the next, and analysts expect sales will grow by 96.70% for the current quarter and 82.83% for the next.
SOUN Dividends
SoundHound AI Inc is expected to release its next earnings report in December 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 2.24% of the company shares, while shares held by institutions stand at 29.22% with a share float percentage of 29.89%. Investors are also buoyed by the number of investors in a company, with SoundHound AI Inc having a total of 369.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 22.69 million shares worth more than $89.62 million. As of 2024-06-30, VANGUARD GROUP INC held 7.9168% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 21.44 million shares as of 2024-06-30. The firm’s total holdings are worth over $84.7 million and represent 7.4821% 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 30, 2024 , the former fund manager holds about 2.81% shares in the company for having 9.47 shares of worth $76.06 million while later fund manager owns 7.65 shares of worth $61.45 million as of Sep 30, 2024 , which makes it owner of about 2.27% of company’s outstanding stock.
