Ready to Jump After Recent Trade: SoundHound AI Inc (SOUN)

With 37.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.26 shares. The 52-week range on SOUN shows that it touched its highest point at $5.11 and its lowest point at $1.49 during that stretch. It currently has a 1-year price target of $4.43. Beta for the stock currently stands at 1.13.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SOUN was up-trending over the past week, with a rise of 32.94%, but this was up by 20.53% over a month. Three-month performance surged to 27.68% while six-month performance rose 19.58%. The stock lost -51.19% in the past year, while it has gained 6.60% so far this year. A look at the trailing 12-month EPS for SOUN yields -0.47 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.06. This implies an EPS growth rate of 49.32% for this year and 25.95% for next year.

Float and Shares Shorts:

At present, 246.92 million SOUN shares are outstanding with a float of 197.82 million shares on hand for trading. On Jan 31, 2024, short shares totaled 25.15 million, which was 9.83% higher than short shares on Dec 29, 2023. In addition to Dr. Keyvan Mohajer as the firm’s CEO, President & Director, Mr. Nitesh Sharan serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 25.40% of SOUN’s outstanding shares, institutional investors have minority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SOUN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SOUN analysts setting a high price target of $5.00 and a low target of $3.60, the average target price over the next 12 months is $4.43. Based on these targets, SOUN could surge 121.24% to reach the target high and rise by 59.29% to reach the target low. Reaching the average price target will result in a growth of 96.02% from current levels.

Summary of Insider Activity:

Insiders traded SOUN stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 5,100 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 2,159,475 while 21,064,658 shares were sold.