Sound Group Inc. (NASDAQ:SOGP) Short Interest Down 60.8% in October

Sound Group Inc. (NASDAQ:SOGP) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 14,500 shares, a drop of 60.8% from the September 30th total of 37,000 shares. Based on an average daily trading volume, of 17,600 shares, the short-interest ratio is presently 0.8 days. Approximately 0.4% of the company’s stock are sold short.

Sound Group Trading Down 3.4 %

Sound Group stock traded down $0.06 during midday trading on Friday, reaching $1.86. The stock had a trading volume of 6,206 shares, compared to its average volume of 260,260. The company has a fifty day moving average price of $1.90 and a two-hundred day moving average price of $2.25. The company has a market capitalization of $9.63 million, a P/E ratio of 1.88 and a beta of 1.69. Sound Group has a 12 month low of $1.49 and a 12 month high of $6.70.

Institutional Investors Weigh In On Sound Group

A hedge fund recently bought a new stake in Sound Group stock. Acadian Asset Management LLC purchased a new stake 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 fund purchased 35,752 shares of the company’s stock, valued at approximately $74,000. Acadian Asset Management LLC owned approximately 0.69% of Sound Group at the end of the most recent quarter. Institutional investors and hedge funds own 1.62% of the company’s stock.

Sound Group Company Profile

Sound Group Inc operates as an audio-centric social and entertainment company. It focuses on building audio platform to connect and communicate. The company, through its product portfolio and in-house technologies, caters to user interest in audio entertainment and social networking. The company was formerly known as LIZHI INC.