In yesterday’s Wall Street session, SoundHound AI Inc (NASDAQ:SOUN) shares traded at $19.69, up 16.44% from the previous session.
SOUN stock price is now 155.29% away from the 50-day moving average and 247.71% away from the 200-day moving average. The market capitalization of the company currently stands at $9.01B.
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With the price target maintained at $7, Ladenburg Thalmann recently Downgraded its rating from Buy to Neutral for SoundHound AI Inc (NASDAQ: SOUN). On August 09, 2024, Cantor Fitzgerald Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $5 to quote $7, while the Cantor Fitzgerald previously rated the stock as ‘Neutral’ on April 11, 2024.
In other news, MARCUS LAWRENCE, Director sold 25,000 shares of the company’s stock on Dec 12 ’24. The stock was sold for $350,000 at an average price of $14.00. Upon completion of the transaction, the Director now directly owns 128,117 shares in the company, valued at $2.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 16 ’24, Officer MICHAEL ZAGORSEK bought 138,906 shares of the business’s stock. A total of $2,348,900 was incurred on buying the stock at an average price of $16.91. A total of 12.26% of the company’s stock is owned by insiders.
During the past 12 months, SoundHound AI Inc has had a low of $1.62 and a high of $17.29. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 2.58, and a quick ratio of 2.58. The fifty day moving average price for SOUN is $7.4129 and a two-hundred day moving average price translates $5.594425 for the stock.
The latest earnings results from SoundHound AI Inc (NASDAQ: SOUN) was released for 2024-09-30. The net profit margin was -165.04% and return on equity was -68.39% for SOUN. The company reported revenue of $25.09 million for the quarter, compared to $13.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 89.13 percent.
