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Wednesday, December 6, 2023

This Is Too Hot For SoundHound AI Inc (NASDAQ: SOUN), Let’s Take A Closer Look

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for SoundHound AI Inc (SOUN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.04, or -1.88%, to $2.09. The SoundHound AI Inc has recorded 171,468 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that SoundHound AI Reports Record Third Quarter, Revenue Increases to $13.3 Million, Adjusted EBITDA Improves 57% Year Over Year.

Stocks Info

As a NASDAQ listed company, SOUN falls under the Technology sector while operating within the Software – Application industry segment. At the end of the last regular session, the stock closed at $2.13 and fluctuated between $2.1700 as its day high and $1.9600 as its day low. The current market capitalization of SoundHound AI Inc is $79.85M. A total of 14.03 million shares were traded on the day, compared to an average of 9.85M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, SOUN has seen 5 BUY and 7 SELL insider trades, representing the acquisition of 115,142 and the disposition of 164,366 shares. Over the last 12 months, there were 14 BUYs and 42 SELLs from insiders. Insiders purchased 2,159,475 shares during that period but sold 21,132,488.

In the most recent transaction, STONEHOCKER TIMOTHY sold 5,404 shares of SOUN for 1.71 per share on Oct 23. After the transaction, the Chief Technology Officer now owns 1,006,531 company shares. In a previous transaction on Sep 21, STONEHOCKER TIMOTHY sold 14,283 shares at 1.93 per share. SOUN shares that Chief Technology Officer owns now total 1,011,935.

Among the insiders who sold shares, MOHAJER KEYVAN disposed of 53,642 shares on Sep 15 at a per-share price of $2.07. This resulted in the CEO holding 1,396,737 shares of SOUN after the transaction. In another insider transaction, ZAGORSEK MICHAEL sold 27,533 shares at $2.07 per share on Sep 15. Company shares held by the Chief Operating Officer now total 820,104.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for SOUN in the last 3 months, the mean price target is $4.52 with high estimates of $5.00 and low estimates of $3.60. In terms of 52-week highs and lows, SOUN has a high of $5.11 and a low of $0.93.

As of this writing, SOUN has an earnings estimate of -$0.06 per share for the current quarter. EPS was calculated based on a consensus of 4 estimates, with a high estimate of -$0.03 per share and a lower estimate of -$0.07. The company reported an EPS of -$0.1 in the last quarter, which was 9.10% higher than expectations of -$0.11.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. SOUN’s latest balance sheet shows that the firm has $21.63M in Cash & Short Term Investments as of fiscal 2021. There were $73.32M in debt and $87.74M in liabilities at the time. Its Book Value Per Share was $0.06, while its Total Shareholder’s Equity was -$343.24M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SOUN is Buy with a score of 5.00.

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