SoundHound AI Inc. [NASDAQ: SOUN] price surged by 15.04 percent to reach at $0.37. The company report on March 23, 2023 that New SoundHound Chat AI Platform Uses Breakthrough Technology To Offer Powerful Voice Assistant To Businesses and Brands.
Proprietary software engineering and machine learning combine best-in-class voice AI with third-party Generative AI models, like ChatGPT.
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Platform gives peerless voice access to information domains, including Generative AI models like ChatGPT.
A sum of 21675078 shares traded at recent session while its average daily volume was at 14.37M shares. SoundHound AI Inc. shares reached a high of $2.99 and dropped to a low of $2.46 until finishing in the latest session at $2.83.
The one-year SOUN stock forecast points to a potential upside of 33.1. The average equity rating for SOUN stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on SoundHound AI Inc. [SOUN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOUN shares is $4.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOUN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for SoundHound AI Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 30, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on July 01, 2022, representing the official price target for SoundHound AI Inc. stock. Previously, the target price had yet another raise to $7, while Wedbush analysts kept a Outperform rating on SOUN stock.
The Average True Range (ATR) for SoundHound AI Inc. is set at 0.43, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 17.40.
SOUN Stock Performance Analysis:
SoundHound AI Inc. [SOUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 43.65. With this latest performance, SOUN shares gained by 9.06% in over the last four-week period, additionally sinking by -21.61% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOUN stock in for the last two-week period is set at 55.45, with the RSI for the last a single of trading hit 58.47, and the three-weeks RSI is set at 53.87 for SoundHound AI Inc. [SOUN]. The present Moving Average for the last 50 days of trading for this stock 2.75, while it was recorded at 2.81 for the last single week of trading, and 2.62 for the last 200 days.
Insight into SoundHound AI Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and SoundHound AI Inc. [SOUN] shares currently have an operating margin of -338.61 and a Gross Margin at +69.16. SoundHound AI Inc.’s Net Margin is presently recorded at -370.63.
Return on Equity for this stock declined to -236.37, with Return on Assets sitting at -134.47.
SoundHound AI Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
SoundHound AI Inc. [SOUN] Insider Position Details
There are presently around $69 million, or 11.00% of SOUN stock, in the hands of institutional investors. The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 6,525,085, which is approximately 308.279% of the company’s market cap and around 3.10% of the total institutional ownership; ANCHORAGE CAPITAL GROUP, L.L.C., holding 3,197,767 shares of the stock with an approximate value of $9.05 million in SOUN stocks shares; and COTA CAPITAL MANAGEMENT, LLC, currently with $5.76 million in SOUN stock with ownership of nearly -0.099% of the company’s market capitalization.
Positions in SoundHound AI Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 18 institutional holders increased their position in SoundHound AI Inc. [NASDAQ:SOUN] by around 7,980,061 shares. Additionally, 14 investors decreased positions by around 987,667 shares, while 12 investors held positions by with 15,280,751 shares. The mentioned changes placed institutional holdings at 24,248,479 shares, according to the latest SEC report filing. SOUN stock had 7 new institutional investments in for a total of 2,603,889 shares, while 9 institutional investors sold positions of 555,619 shares during the same period.