Stocks of SoundHound AI Inc (NASDAQ:SOUN) traded higher last session on Wall Street, up 6.21% to $4.62.
SOUN stock price is now -3.83% away from the 50-day moving average and 11.80% away from the 200-day moving average. The market capitalization of the company currently stands at $1.66B.
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With the price target enhanced from $5 to $7, Cantor Fitzgerald Upgraded its rating from Neutral to Overweight for SoundHound AI Inc (NASDAQ: SOUN). On April 11, 2024, Cantor Fitzgerald Upgraded its previous ‘Underweight’ rating to ‘Neutral’ on the stock keeping its target price maintained at $4.90, while ‘Northland Capital’ rates the stock as ‘Market Perform’
In other news, MARCUS LAWRENCE, Director sold 50,000 shares of the company’s stock on Aug 20 ’24. The stock was sold for $250,970 at an average price of $5.02. Upon completion of the transaction, the Director now directly owns 74,038 shares in the company, valued at $0.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 11 ’24, Chief Technology Officer STONEHOCKER TIMOTHY sold 208,000 shares of the business’s stock. A total of $1,196,478 was realized by selling the stock at an average price of $5.75. This leaves the insider owning 659,531 shares of the company worth $3.05 million. A total of 13.19% 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 0.02, a current ratio of 8.77, and a quick ratio of 8.77. The fifty day moving average price for SOUN is $4.8166 and a two-hundred day moving average price translates $4.144275 for the stock.
The latest earnings results from SoundHound AI Inc (NASDAQ: SOUN) was released for 2024-06-30. The net profit margin was -198.59% and return on equity was -82.62% for SOUN. The company reported revenue of $13.46 million for the quarter, compared to $8.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53.83 percent.
