In the last trading session, 64.48 million shares of the SoundHound AI Inc (NASDAQ:SOUN) were traded, and its beta was 2.85. Most recently the company’s share price was $13.64, and it changed around -$0.33 or -2.36% from the last close, which brings the market valuation of the company to $5.04B. SOUN currently trades at a discount to its 52-week high of $24.98, offering almost -83.14% off that amount. The share price’s 52-week low was $1.62, which indicates that the current value has risen by an impressive 88.12% since then. We note from SoundHound AI Inc’s average daily trading volume that its 10-day average is 69.58 million shares, with the 3-month average coming to 68.29 million.
SoundHound AI Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.71. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended SOUN as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight.
SoundHound AI Inc (NASDAQ:SOUN) trade information
Instantly SOUN has showed a red trend with a performance of -2.36% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 15.35 on recent trading dayincreased the stock’s daily price by 11.14%. The company’s shares are currently down -31.25% year-to-date, but still down -3.19% over the last five days. On the other hand, SoundHound AI Inc (NASDAQ:SOUN) is -30.73% down in the 30-day period. We can see from the shorts that 79.99 million shares have been sold at a short interest cover period of 0.74 day(s).
The consensus price target as assigned by Wall Street analysts is $7, which translates to bulls needing to decrease their stock price by -94.86% from its current value. Analyst projections state that SOUN is forecast to be at a low of $7 and a high of $9.
SoundHound AI Inc (SOUN) estimates and forecasts
SoundHound AI Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 172.80 percent over the past six months and at a 0.00% annual growth rate that is well below the industry average of 14.90%.
SOUN Dividends
SoundHound AI Inc’s next quarterly earnings report is expected to be released in February.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.98% of SoundHound AI Inc shares, and 29.97% of them are in the hands of institutional investors. The stock currently has a share float of 30.57%. SoundHound AI Inc stock is held by 391.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 7.9168% of the shares, which is about 22.69 million shares worth $89.62 million.
BLACKROCK INC., with 7.4821% or 21.44 million shares worth $84.7 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024 . The former held 9.47 shares worth $129.2 million, making up 2.81% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 7.57 shares worth around $103.26 million, which represents about 2.25% of the total shares outstanding.
