Sound Group (NASDAQ:SOGP) Shares Climb 0.3% – Here’s What Happened

Sound Group, Inc. (NASDAQ:SOGP) shares traded up 0.3% on Tuesday. The stock traded as high as $11.97 and last traded at $11.5890. 3,588 shares traded hands during trading, a decline of 84% from the average daily volume of 22,008 shares. The stock had previously closed at $11.55.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SOGP. Wall Street Zen lowered shares of Sound Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings lowered Sound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Sound Group Trading Down 1.6%

The firm’s fifty day simple moving average is $11.81 and its 200 day simple moving average is $13.01. The company has a market cap of $36.29 million, a price-to-earnings ratio of -9.52 and a beta of 2.48.

Sound Group (NASDAQ:SOGP) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $124.42 million for the quarter.

Hedge Funds Weigh In On Sound Group

An institutional investor recently bought a new stake in Sound Group stock. Ma Investment Partnership LP acquired a new position in shares of Sound Group, Inc. (NASDAQ:SOGP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,122,000. Sound Group comprises about 0.2% of Ma Investment Partnership LP’s holdings, making the stock its 13th biggest position. Ma Investment Partnership LP owned 2.22% of Sound Group as of its most recent filing with the SEC. Institutional investors own 1.62% of the company’s stock.

Sound Group Company Profile

Sound Group Inc is a global, AI-powered audio company on a mission to help people connect better and live happier. Leveraging its voice AI technologies and deep expertise in audio interaction, Sound Group is building a diverse ecosystem of intelligent audio products that cater to a global user base. By integrating technology, innovative products, and real-world data within a user-centric ecosystem, the Company generates a powerful growth flywheel that drives continuous innovation and accelerates global expansion.