The price of SoundHound AI Inc (NASDAQ:SOUN) shares last traded on Wall Street rose 4.33% to $11.44.
SOUN stock price is now -29.57% away from the 50-day moving average and 44.11% away from the 200-day moving average. The market capitalization of the company currently stands at $4.50B.
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 20,000 shares of the company’s stock on Dec 23 ’24. The stock was sold for $409,436 at an average price of $20.47. Upon completion of the transaction, the Director now directly owns 108,117 shares in the company, valued at $1.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 23 ’24, Director SROKA DIANA sold 3,402 shares of the business’s stock. A total of $77,225 was realized by selling the stock at an average price of $22.70. This leaves the insider owning 142,252 shares of the company worth $1.63 million. A total of 11.47% of the company’s stock is owned by insiders.
During the past 12 months, SoundHound AI Inc has had a low of $3.11 and a high of $24.98. 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 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.
