The stock of SoundHound AI Inc (SOUN) has gone up by 2.75% for the week, with a -1.05% drop in the past month and a -14.41% drop in the past quarter. The volatility ratio for the week is 4.78%, and the volatility levels for the past 30 days are 4.39% for SOUN. The simple moving average for the past 20 days is 0.61% for SOUN’s stock, with a 8.05% simple moving average for the past 200 days.
Is It Worth Investing in SoundHound AI Inc (NASDAQ: SOUN) Right Now?
Company’s 36-month beta value is 3.05.Analysts have differing opinions on the stock, with 4 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for SOUN is 313.03M, and currently, short sellers hold a 25.02% ratio of that floaft. The average trading volume of SOUN on October 11, 2024 was 21.78M shares.
SOUN) stock’s latest price update
SoundHound AI Inc (NASDAQ: SOUN) has experienced a decline in its stock price by -0.44 compared to its previous closing price of 4.84. However, the company has seen a gain of 2.75% in its stock price over the last five trading days. invezz.com reported 2024-10-11 that SoundHound AI Inc. (NASDAQ: SOUN) has disappointed its shareholders over the past six months, and there is little indication that this will change anytime soon. While the California-based company cites artificial intelligence as a primary tailwind driving accelerated growth, several concerns may hinder the stock’s performance in the coming months.
Analysts’ Opinion of SOUN
Many brokerage firms have already submitted their reports for SOUN stocks, with Cantor Fitzgerald repeating the rating for SOUN by listing it as a “Overweight.” The predicted price for SOUN in the upcoming period, according to Cantor Fitzgerald is $7 based on the research report published on August 09, 2024 of the current year 2024.
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see SOUN reach a price target of $4.90. The rating they have provided for SOUN stocks is “Neutral” according to the report published on April 11th, 2024.
SOUN Trading at 0.34% from the 50-Day Moving Average
After a stumble in the market that brought SOUN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -52.99% of loss for the given period.
Volatility was left at 4.39%, however, over the last 30 days, the volatility rate increased by 4.78%, as shares sank -0.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.86% upper at present.
During the last 5 trading sessions, SOUN rose by +3.20%, which changed the moving average for the period of 200-days by +127.23% in comparison to the 20-day moving average, which settled at $4.79. In addition, SoundHound AI Inc saw 127.30% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SOUN starting from SHARAN NITESH, who sale 39,728 shares at the price of $4.88 back on Sep 20 ’24. After this action, SHARAN NITESH now owns 1,560,411 shares of SoundHound AI Inc, valued at $193,853 using the latest closing price.
ZAGORSEK MICHAEL, the Chief Operating Officer of SoundHound AI Inc, sale 42,001 shares at $4.88 during a trade that took place back on Sep 20 ’24, which means that ZAGORSEK MICHAEL is holding 1,473,322 shares at $204,944 based on the most recent closing price.
Stock Fundamentals for SOUN
Current profitability levels for the company are sitting at:
- -1.31 for the present operating margin
- 0.67 for the gross margin
The net margin for SoundHound AI Inc stands at -1.96. The total capital return value is set at -0.3. Equity return is now at value -82.62, with -51.16 for asset returns.
Based on SoundHound AI Inc (SOUN), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at -16.59. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is -3.53.
Currently, EBITDA for the company is -61.74 million with net debt to EBITDA at 2.88. When we switch over and look at the enterprise to sales, we see a ratio of 27.32. The receivables turnover for the company is 2.78for trailing twelve months and the total asset turnover is 0.21. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.77.
Conclusion
In a nutshell, SoundHound AI Inc (SOUN) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
