In yesterday’s Wall Street session, SoundHound AI Inc (NASDAQ:SOUN) shares traded at $5.63, down -9.19% from the previous session.
SOUN stock price is now 20.18% away from the 50-day moving average and 59.35% away from the 200-day moving average. The market capitalization of the company currently stands at $1.85B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, STONEHOCKER TIMOTHY, Chief Technology Officer sold 208,000 shares of the company’s stock on Jul 11 ’24. The stock was sold for $1,196,478 at an average price of $5.75. Upon completion of the transaction, the Chief Technology Officer now directly owns 659,531 shares in the company, valued at $3.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 24 ’24, CEO MOHAJER KEYVAN sold 116,504 shares of the business’s stock. A total of $459,853 was realized by selling the stock at an average price of $3.95. This leaves the insider owning 953,333 shares of the company worth $5.37 million. A total of 14.38% 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 fifty day moving average price for SOUN is $4.6848 and a two-hundred day moving average price translates $3.533175 for the stock.
The latest earnings results from SoundHound AI Inc (NASDAQ: SOUN) was released for 2024-03-31. 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.
