SoundHound AI Inc (NASDAQ:SOUN) traded at $8.25 at close of the session on current trade day and made an upward move of 18.19% on its previous day’s price.
Looking at the stock we see that its previous close was $6.98 and the beta (5Y monthly) reads 3.035 with the day’s price range being $7.18 – $8.49. In terms of its 52-week price range, SOUN has a high of $10.25 and a low of $1.62. The company’s stock has gained about 56.25% over that past 30 days.
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SoundHound AI Inc has a market cap of $3.61 billion and is expected to release its quarterly earnings report in December.
On the other hand, looking at the outlook for the SOUN stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy.
Based on estimates by 5 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the SoundHound AI Inc (SOUN) stock as a Hold, while 4 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 29.91% off its SMA20 and 49.74% from its 50-day simple moving average. The RSI (14) is pointing at 68.95 while the volatility over the past week is 12.06% and jumps to 10.36% over the past one month. The beta value is 3.12, while the average true range (ATR) is currently pointing at 0.68. The average price target for the stock over the next 12 months is $8, with the estimates having a low of $7 and a high of $9.5. These price ends are 15.15% and -15.15% off the current price level respectively, although investors could be excited at the prospect of a 3.03% if the SOUN share price touches on the median price of $8.
Coming back to SoundHound AI Inc (NASDAQ:SOUN), we note that the average 3-month trading volume was 23.16 million, while that of the preceding 10-day period stands at 59.52 million. Current shares outstanding are 358.73 million.
The insiders hold 12.74% of the company’s shares while institutions hold 26.85%. The data shows that short shares as of 2024-10-31, stood at 77.78 million at a short ratio of 3.77. This represents a 2404.00 short interest in shares outstanding on 2024-10-31. Shares short fall in October from the previous month at 78.33 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 289.15% up in year-to-date price movement.
