Sound Group (NASDAQ:SOGP) Shares Down 3.9% – Here’s Why

Sound Group, Inc. (NASDAQ:SOGP)’s share price was down 3.9% on Wednesday . The company traded as low as $12.10 and last traded at $12.41. Approximately 53,869 shares traded hands during mid-day trading, an increase of 184% from the average daily volume of 18,986 shares. The stock had previously closed at $12.91.

Wall Street Analyst Weigh In

SOGP has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Sound Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sound Group in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Sound Group has an average rating of “Sell”.

Sound Group Stock Performance

The business’s fifty day moving average is $13.82 and its 200-day moving average is $15.15. The firm has a market cap of $61.31 million, a P/E ratio of 137.89 and a beta of 2.67.

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.