Short Interest in Sound Group Inc. (NASDAQ:SOGP) Declines By 15.1%

Sound Group Inc. (NASDAQ:SOGP) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 9,000 shares, a decline of 15.1% from the August 31st total of 10,600 shares. Based on an average trading volume of 9,400 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.2% of the company’s stock are short sold.

Sound Group Price Performance

Shares of SOGP opened at $2.27 on Friday. The business’s 50-day moving average is $1.86 and its 200-day moving average is $2.44. The company has a market capitalization of $11.77 million, a price-to-earnings ratio of 2.30 and a beta of 1.66. Sound Group has a fifty-two week low of $1.49 and a fifty-two week high of $6.70.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sound Group stock. Acadian Asset Management LLC purchased a new stake in shares of Sound Group Inc. (NASDAQ:SOGP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing. Institutional investors 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.