A new trading day began on Monday, with SoundHound AI Inc (NASDAQ: SOUN) stock price down -8.66% from the previous day of trading, before settling in for the closing price of $4.62. SOUN’s price has ranged from $1.49 to $10.25 over the past 52 weeks.
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Over the past five-year period, the growth rate of yearbook sales for the company of the Technology sector was 31.41%. Meanwhile, its annual earnings per share averaged 23.75%. With a float of $286.26 million, this company’s outstanding shares have now reached $329.17 million.
Considering the fact that the conglomerate employs 260 people, you should pay attention to its efficiency factor.
SoundHound AI Inc (SOUN) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Software – Application Industry. The insider ownership of SoundHound AI Inc is 13.04%, while institutional ownership is 20.24%. The most recent insider transaction that took place on Jul 11 ’24, was worth 1,196,478. In this transaction Chief Technology Officer of this company sold 208,000 shares at a rate of $5.75, taking the stock ownership to the 659,531 shares. Before that another transaction happened on Jun 24 ’24, when Company’s CEO sold 116,504 for $3.95, making the entire transaction worth $459,853. This insider now owns 953,333 shares in total.
SoundHound AI Inc (SOUN) Earnings and Forecasts
In its latest quarterly report, released on 3/31/2024, the company reported earnings of -0.1 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.06 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 23.75% per share during the next fiscal year.
SoundHound AI Inc (NASDAQ: SOUN) Trading Performance Indicators
Here are SoundHound AI Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 8.84. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 27.37.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.37, a number that is poised to hit -0.09 in the next quarter and is forecasted to reach -0.18 in one year’s time.
Technical Analysis of SoundHound AI Inc (SOUN)
Compared to the last year’s volume of 40.18 million, its volume of 20.18 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 27.43%. Additionally, its Average True Range was 0.48.
During the past 100 days, SoundHound AI Inc’s (SOUN) raw stochastic average was set at 10.67%, which indicates a significant decrease from 13.21% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 85.47% in the past 14 days, which was lower than the 97.50% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $4.67, while its 200-day Moving Average is $3.78. Nevertheless, the first resistance level for the watch stands at $4.50 in the near term. At $4.78, the stock is likely to face the second major resistance level. The third major resistance level sits at $5.06. If the price goes on to break the first support level at $3.94, it is likely to go to the next support level at $3.66. Should the price break the second support level, the third support level stands at $3.38.
SoundHound AI Inc (NASDAQ: SOUN) Key Stats
With a market capitalization of 1.39 billion, the company has a total of 329,170K Shares Outstanding. Currently, annual sales are 45,870 K while annual income is -88,940 K. The company’s previous quarter sales were 11,590 K while its latest quarter income was -33,010 K.
