SoundHound AI Inc [NASDAQ: SOUN] loss -1.89% or -0.1 points to close at $5.18 with a heavy trading volume of 12920780 shares.
The daily chart for SOUN points out that the company has recorded 17.73% gains over the past six months.
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If we look at the average trading volume of 18.32M shares, SOUN reached to a volume of 12920780 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 $7.79 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 1.29. 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 August 09, 2024. The new note on the price target was released on April 11, 2024, representing the official price target for SoundHound AI Inc stock.
The Average True Range (ATR) for SoundHound AI Inc is set at 0.31, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 33.50. The Price to Book ratio for the last quarter was 8.05, with the Price to Cash per share for the same quarter was set at 0.56.
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 -5.82. With this latest performance, SOUN shares gained by 5.50% in over the last four-week period, additionally plugging by 17.73% over the last 6 months – not to mention a rise of 223.75% 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 54.43, with the RSI for the last a single of trading hit 53.46, and the three-weeks RSI is set at 54.12 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 4.90, while it was recorded at 5.22 for the last single week of trading, and 4.62 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 8.77 and a Current Ratio set at 8.77.
SoundHound AI Inc [SOUN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, SoundHound AI Inc posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. 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]
There are presently around $28.01%, or 28.67%% of SOUN stock, in the hands of institutional investors. The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 22.69 million shares, which is approximately 7.9168%. BLACKROCK INC., holding 21.44 million shares of the stock with an approximate value of $$84.7 million in SOUN stocks shares; and BLACKROCK INC., currently with $$28.26 million in SOUN stock with ownership which is approximately 2.4964%.
