Kraematon Investment Advisors Inc. Purchases New Shares in SoundHound AI, Inc. (NASDAQ:SOUN)

Kraematon Investment Advisors Inc. bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,900 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. ST Germain D J Co. Inc. boosted its position in shares of SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock worth $60,000 after buying an additional 750 shares during the period. NBC Securities Inc. boosted its position in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after buying an additional 3,818 shares during the period. Farther Finance Advisors LLC boosted its position in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock worth $42,000 after buying an additional 6,716 shares during the period. Finally, Amalgamated Bank boosted its position in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company's stock worth $39,000 after buying an additional 5,099 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson reiterated a "buy" rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Barclays reissued a "neutral" rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a report on Tuesday. Finally, Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.36.

Insider Buying and Selling

In other news, Director Lawrence Marcus sold 20,000 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total transaction of $409,400.00. Following the transaction, the director now owns 108,117 shares in the company, valued at approximately $2,213,154.99. The trade was a 15.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 156,288 shares of SoundHound AI stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the transaction, the chief executive officer now directly owns 2,021,666 shares of the company's stock, valued at approximately $40,837,653.20. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,782,918 shares of company stock worth $45,391,343. Corporate insiders own 12.28% of the company's stock.

SoundHound AI Stock Down 0.8 %

NASDAQ:SOUN traded down $0.11 during trading hours on Friday, hitting $13.86. 54,492,876 shares of the stock traded hands, compared to its average volume of 67,900,516. The firm has a 50 day moving average price of $13.90 and a 200 day moving average price of $8.05. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $24.98. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -38.69 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analysts' expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI's revenue was up 88.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

SoundHound AI Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.