The price of SoundHound AI Inc (NASDAQ:SOUN) shares last traded on Wall Street rose 18.15% to $6.12.
SOUN stock price is now 24.30% away from the 50-day moving average and 31.82% away from the 200-day moving average. The market capitalization of the company currently stands at $2.20B.
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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, SHARAN NITESH, Chief Financial Officer sold 39,728 shares of the company’s stock on Sep 20 ’24. The stock was sold for $193,853 at an average price of $4.88. Upon completion of the transaction, the Chief Financial Officer now directly owns 1,560,411 shares in the company, valued at $9.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 20 ’24, Chief Operating Officer ZAGORSEK MICHAEL sold 42,001 shares of the business’s stock. A total of $204,944 was realized by selling the stock at an average price of $4.88. This leaves the insider owning 1,473,322 shares of the company worth $9.02 million. A total of 12.74% 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 $4.9236 and a two-hundred day moving average price translates $4.64255 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.
