$SoundHound AI Inc(SOUN)$ ’s stock price has decreased by -22.07 compared to its previous closing price of 3.33. However, the company has experienced a -7.98% decline in its stock price over the last five trading sessions.Barron’sreported 4 hours ago that SoundHound Shares Drop After Earnings as AI Stocks Hit an Air Pocket
Is It Worth Investing in SoundHound Right Now?
Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The average price suggested by analysts for SOUN is $4.23, which is $1.1 above the current market price. The public float for SOUN is 158.24M, and currently, shorts hold a 9.04% of that float. The average trading volume for SOUN on March 09, 2023 was 11.30M shares.
SOUN’s Market Performance
SOUN’s stock has seen a -7.98% decrease for the week, with a -35.61% drop in the past month and a 104.33% gain in the past quarter. The volatility ratio for the week is 16.86%, and the volatility levels for the past 30 days are at 20.06% for SoundHound AI Inc. The simple moving average for the last 20 days is -27.24% for SOUN stock, with a simple moving average of -11.85% for the last 200 days.
Analysts’ Opinion of SOUN
Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see SOUN reach a price target of $3. The rating they have provided for SOUN stocks is “Neutral” according to the report published on July 01st, 2022.
Wedbush gave a rating of “Outperform” to SOUN, setting the target price at $7 in the report published on June 28th of the previous year.
SOUN Trading at 11.74% from the 50-Day Moving Average
After a stumble in the market that brought SOUN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -85.69% of loss for the given period.
Volatility was left at 20.06%, however, over the last 30 days, the volatility rate increased by 16.86%, as shares sank -27.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +168.72% upper at present.
During the last 5 trading sessions, SOUN fell by -7.98%, which changed the moving average for the period of 200-days by -46.60% in comparison to the 20-day moving average, which settled at $3.52. In addition, SoundHound AI Inc. saw 46.61% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SOUN starting from STONEHOCKER TIMOTHY, who sale 4,152 shares at the price of $3.79 back on Feb 22. After this action, STONEHOCKER TIMOTHY now owns 1,041,228 shares of SoundHound AI Inc., valued at $15,736 using the latest closing price.
STONEHOCKER TIMOTHY, the Chief Technology Officer of SoundHound AI Inc., sale 10,000 shares at $4.47 during a trade that took place back on Feb 07, which means that STONEHOCKER TIMOTHY is holding 1,045,380 shares at $44,750 based on the most recent closing price.
Stock Fundamentals for SOUN
Equity return is now at value 59.90, with -179.80 for asset returns.
Conclusion
In conclusion, SoundHound has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
source:newsheater
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