Hennion & Walsh Asset Management Inc. Purchases Shares of 38,106 SoundHound AI, Inc. (NASDAQ:SOUN)

Hennion & Walsh Asset Management Inc. bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 38,106 shares of the company's stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kieckhefer Group LLC purchased a new stake in SoundHound AI during the fourth quarter worth approximately $3,432,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company's stock valued at $12,033,000 after acquiring an additional 189,109 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in SoundHound AI during the 3rd quarter worth $4,193,000. Oriental Harbor Investment Fund acquired a new stake in SoundHound AI in the 4th quarter valued at $8,964,000. Finally, Geode Capital Management LLC raised its position in SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock valued at $33,529,000 after purchasing an additional 602,311 shares during the period. Institutional investors and hedge funds own 19.28% of the company's stock.

Analyst Ratings Changes

SOUN has been the subject of several analyst reports. LADENBURG THALM/SH SH reaffirmed a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. DA Davidson restated a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. Barclays reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Finally, Northland Securities increased their target price on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.36.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN traded down $0.33 during trading on Monday, reaching $13.64. 64,572,802 shares of the company's stock traded hands, compared to its average volume of 84,963,280. The stock has a market capitalization of $5.04 billion, a P/E ratio of -37.89 and a beta of 2.63. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.98. The company has a 50 day moving average of $14.03 and a 200-day moving average of $8.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

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

Insider Buying and Selling at SoundHound AI

In related news, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the transaction, the chief executive officer now directly owns 2,299,148 shares of the company's stock, valued at $34,579,185.92. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Marcus sold 30,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the sale, the director now owns 178,117 shares in the company, valued at approximately $1,273,536.55. This trade represents a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock valued at $45,391,343 in the last quarter. Corporate insiders own 12.28% of the company's stock.

About SoundHound AI

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.