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SoundHound AI Inc. (NASDAQ: SOUN) Is An Exciting Stock

SoundHound AI Inc. (NASDAQ:SOUN) traded at $1.47 at close of the session on Monday, 01/23/23, made an upward move of 3.52% on its previous day’s price.

Looking at the stock we see that its previous close was $1.42 with the day’s price range being $1.41 – $1.58. In terms of its 52-week price range, SOUN has a high of $18.14 and a low of $0.93. The company’s stock has gained about 33.64% over that past 30 days.

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SoundHound AI Inc. has a market cap of $256.12 million and is expected to release its quarterly earnings report on Oct 17, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.16, with the EPS growth for the year raised at -$1.69 for 2022 and -$0.55 for next year.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $8.95 million, with a low of $8.8 million and a high of $9.1 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term.

Based on estimates by 3 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the SoundHound AI Inc. (SOUN) stock as a Hold, while 3 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 26.97% off its SMA20 and 9.08% from its 50-day simple moving average. The RSI (14) is pointing at 57.87 while the volatility over the past week is 17.54% and jumps to 16.80% over the past one month. The average price target for the stock over the next 12 months is $3.70, with the estimates having a low of $1.60 and a high of $5.00. These price ends are -8.84% and -240.14% off the current price level respectively, although investors could be excited at the prospect of a -206.12% if the SOUN share price touches on the median price of $4.50.

Coming back to SoundHound AI Inc. (NASDAQ:SOUN), we note that the average 3-month trading volume was 935.40K, while that of the preceding 10-day period stands at 1.86 million. Current shares outstanding are 197.01 million.

The insiders hold 3.10% of the company’s shares while institutions hold 11.00%. The data shows that short shares as of Oct 13, 2022, stood at 1.26 million at a short ratio of 5.42. This represents a 0.64% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 0.92 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -16.95% down in year-to-date price movement.

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