Short Interest in Sound Group, Inc. (NASDAQ:SOGP) Grows By 136.9%

Sound Group, Inc. (NASDAQ:SOGP) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 136,011 shares, a growth of 136.9% from the June 15th total of 57,422 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 19,726 shares, the short-interest ratio is currently 6.9 days.

Sound Group Trading Up 0.3%

SOGP stock traded up $0.03 on Wednesday, hitting $10.18. The company’s stock had a trading volume of 6,397 shares, compared to its average volume of 56,822. The stock has a market cap of $45.90 million, a price-to-earnings ratio of -8.41 and a beta of 2.42. The firm has a 50 day moving average of $12.39 and a two-hundred day moving average of $13.64. Sound Group has a 1 year low of $3.20 and a 1 year high of $37.00.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SOGP. Weiss Ratings raised shares of Sound Group from a “sell (d-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wall Street Zen cut Sound Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

About Sound Group

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.