SoundHound AI Inc [SOUN] Is Currently -4.79 below its 200 Period Moving Avg: What Does This Mean?

SoundHound AI Inc [NASDAQ: SOUN] loss -4.79% or -0.09 points to close at $1.79 with a heavy trading volume of 5947501 shares. The company report on January 24, 2024 at 9:00 AM that SoundHound And Jersey Mike’s Introduce Voice AI Phone Ordering.

Customers ordering subs will be able to place orders via a cutting-edge conversational voice assistant.

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SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, and Jersey Mike’s Subs today announced that they are working together to give customers the ability to place phone orders for pick-up via a state-of-the-art voice AI ordering system. Optimized for natural human speech, Jersey Mike’s customers won’t have to modify their language or interact awkwardly with the software – they can just speak naturally as they would to another person.

The daily chart for SOUN points out that the company has recorded -23.18% loss over the past six months.

If we look at the average trading volume of 8.44M shares, SOUN reached to a volume of 5947501 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $4.43 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 1.00. 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.

Ladenburg Thalmann have made an estimate for SoundHound AI Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Jan-31-24.

The Average True Range (ATR) for SoundHound AI Inc is set at 0.12, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 11.56. The Price to Book ratio for the last quarter was 38.22, with the Price to Cash per share for the same quarter was set at 0.39.

Trading performance analysis for SOUN stock

SoundHound AI Inc [SOUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.77. With this latest performance, SOUN shares dropped by -19.73% in over the last four-week period, additionally sinking by -23.18% over the last 6 months – not to mention a drop of -1.10% in the past year of trading.

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 41.06, with the RSI for the last a single of trading hit 38.48, and the three-weeks RSI is set at 43.08 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 2.0581, while it was recorded at 1.8540 for the last single week of trading, and 2.4231 for the last 200 days.

SoundHound AI Inc [SOUN]: A deeper dive into fundamental analysis

SoundHound AI Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.11 and a Current Ratio set at 5.11.

SoundHound AI Inc [SOUN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, SoundHound AI Inc posted -0.15/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOUN.

An analysis of Institutional ownership at SoundHound AI Inc [SOUN]

The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SOUN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SOUN stock with ownership which is approximately 5.8325%.