The price of SoundHound AI Inc (NASDAQ:SOUN) shares last traded on Wall Street rose 8.45% to $5.52.
SOUN stock price is now 2.34% away from the 50-day moving average and 82.57% away from the 200-day moving average. The market capitalization of the company currently stands at $1.69B.
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With the price target maintained at $4.90, Cantor Fitzgerald recently Upgraded its rating from Underweight to Neutral for SoundHound AI Inc (NASDAQ: SOUN)., while ‘Northland Capital’ rates the stock as ‘Market Perform’
In other news, MOHAJER KEYVAN, CEO sold 31,665 shares of the company’s stock on Mar 22 ’24. The stock was sold for $192,454 at an average price of $6.08. Upon completion of the transaction, the CEO now directly owns 1,137,831 shares in the company, valued at $6.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 21 ’24, Chief Technology Officer STONEHOCKER TIMOTHY sold 5,276 shares of the business’s stock. A total of $40,605 was realized by selling the stock at an average price of $7.70. This leaves the insider owning 982,584 shares of the company worth $5.42 million. A total of 15.14% of the company’s stock is owned by insiders.
During the past 12 months, SoundHound AI Inc has had a low of $1.49 and a high of $10.25. As of last week, the company has a debt-to-equity ratio of 0.58, a current ratio of 8.84, and a quick ratio of 8.84.
The net profit margin was -186.56% and return on equity was -118.00% for SOUN. The company reported revenue of $11.59 million for the quarter, compared to $6.71 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 72.86 percent.
