Sound Group (NASDAQ:SOGP) Shares Down 2.1% – Here’s Why

Sound Group, Inc. (NASDAQ:SOGP)’s stock price dropped 2.1% during trading on Wednesday . The stock traded as low as $10.29 and last traded at $10.84. 14,886 shares were traded during trading, a decline of 21% from the average daily volume of 18,899 shares. The stock had previously closed at $11.07.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SOGP shares. Weiss Ratings upgraded shares of Sound Group from a “sell (d-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Sound Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Sound Group Trading Down 2.1%

The firm has a fifty day simple moving average of $13.83 and a two-hundred day simple moving average of $13.92. The stock has a market cap of $48.89 million, a PE ratio of 120.44 and a beta of 2.39.

Sound Group (NASDAQ:SOGP) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $2.39 EPS for the quarter. The business had revenue of $0.12 million for the quarter.

Sound Group Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, May 12th. Shareholders of record on Wednesday, April 22nd were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, April 22nd.

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.