In the last trading session, 37.95 million shares of the SoundHound AI Inc (NASDAQ:SOUN) were traded, and its beta was 2.73. Most recently the company’s share price was $15.60, and it changed around -$0.18 or -1.14% from the last close, which brings the market valuation of the company to $6.14B. SOUN currently trades at a discount to its 52-week high of $24.98, offering almost -60.13% off that amount. The share price’s 52-week low was $1.65, which indicates that the current value has risen by an impressive 89.42% since then. We note from SoundHound AI Inc’s average daily trading volume that its 10-day average is 41.14 million shares, with the 3-month average coming to 75.38 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 -1.14% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 16.59 on recent trading dayincreased the stock’s daily price by 5.97%. The company’s shares are currently down -21.37% year-to-date, but still up 10.25% over the last five days. On the other hand, SoundHound AI Inc (NASDAQ:SOUN) is -13.21% down in the 30-day period. We can see from the shorts that 100.76 million shares have been sold at a short interest cover period of 1.13 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 -122.86% from its current value. Analyst projections state that SOUN is forecast to be at a low of $7 and a high of $7.
SoundHound AI Inc earnings are expected to increase by 5.42% in 2025, but the outlook is positive 21.98% per year for the next five years.
SOUN Dividends
SoundHound AI Inc’s next quarterly earnings report is expected to be released in March.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.15% of SoundHound AI Inc shares, and 33.66% of them are in the hands of institutional investors. The stock currently has a share float of 34.39%. SoundHound AI Inc stock is held by 427.0 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.
