Beck Capital Management LLC Buys Shares of 31,086 SoundHound AI, Inc. (NASDAQ:SOUN)

Beck Capital Management LLC acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,086 shares of the company's stock, valued at approximately $617,000.

A number of other large investors have also made changes to their positions in the stock. Commons Capital LLC increased its stake in SoundHound AI by 2.7% in the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company's stock valued at $543,000 after purchasing an additional 723 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock valued at $60,000 after acquiring an additional 750 shares during the last quarter. Keynote Financial Services LLC lifted its holdings in shares of SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock worth $329,000 after acquiring an additional 752 shares during the period. Blue Trust Inc. boosted its position in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock valued at $131,000 after purchasing an additional 929 shares during the period. Institutional investors and hedge funds own 19.28% of the company's stock.

Insider Buying and Selling

In other SoundHound AI news, CEO Keyvan Mohajer sold 138,895 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $1,400,061.60. Following the transaction, the chief executive officer now owns 1,764,166 shares of the company's stock, valued at approximately $17,782,793.28. This represents a 7.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Ming Hom sold 51,196 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.25, for a total value of $524,759.00. Following the sale, the insider now directly owns 638,456 shares in the company, valued at $6,544,174. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 500,565 shares of company stock valued at $4,999,726 over the last three months. Company insiders own 12.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SOUN. HC Wainwright reissued a "buy" rating and set a $26.00 price target on shares of SoundHound AI in a research report on Monday, March 3rd. Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a report on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. Finally, DA Davidson dropped their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, SoundHound AI has an average rating of "Hold" and an average target price of $12.43.

SoundHound AI Stock Up 7.2 %

SOUN stock opened at $9.38 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $9.06 and its 200 day simple moving average is $10.97. The stock has a market cap of $3.74 billion, a PE ratio of -26.06 and a beta of 2.73. SoundHound AI, Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.58). The business had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. As a group, sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS 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.