Sound Group (NASDAQ:SOGP) Releases Earnings Results

Sound Group (NASDAQ:SOGP) issued its quarterly earnings data on Wednesday. The company reported $0.01 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $124.42 million during the quarter.

Sound Group Stock Down 7.4%

SOGP stock opened at $12.47 on Friday. The company has a 50-day simple moving average of $11.37 and a 200 day simple moving average of $13.33. The company has a market capitalization of $56.24 million, a P/E ratio of -10.31 and a beta of 2.45. Sound Group has a fifty-two week low of $4.53 and a fifty-two week high of $37.00.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen cut shares of Sound Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings downgraded Sound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Trading of Sound Group

An institutional investor recently bought a new stake in Sound Group stock. Ma Investment Partnership LP acquired a new stake in Sound Group, Inc. (NASDAQ:SOGP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the company’s stock, valued at approximately $1,122,000. Sound Group makes up about 0.2% of Ma Investment Partnership LP’s portfolio, making the stock its 13th largest position. Ma Investment Partnership LP owned approximately 2.22% of Sound Group at the end of the most recent reporting period. 1.62% of the stock is currently owned by hedge funds and other institutional investors.

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.