Sound Group (NASDAQ:SOGP) Trading 2.2% Higher – Time to Buy?

Sound Group Inc. (NASDAQ:SOGP)’s stock price rose 2.2% during trading on Monday . The stock traded as high as $1.87 and last traded at $1.84. Approximately 23,373 shares traded hands during trading, a decline of 90% from the average daily volume of 228,872 shares. The stock had previously closed at $1.80.

Sound Group Stock Up 2.2 %

The business has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $1.99. The stock has a market capitalization of $9.02 million, a price-to-earnings ratio of 1.81 and a beta of 1.68.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sound Group stock. Acadian Asset Management LLC purchased a new position in Sound Group Inc. (NASDAQ:SOGP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,752 shares of the company’s stock, valued at approximately $74,000. Acadian Asset Management LLC owned about 0.69% of Sound Group as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.62% of the company’s stock.

About Sound Group

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.