James Ming Hom Sells 51,196 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) insider James Ming Hom sold 51,196 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 638,456 shares in the company, valued at $6,544,174. The trade was a 7.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Ming Hom also recently made the following trade(s):

• On Thursday, March 20th, James Ming Hom sold 28,388 shares of SoundHound AI stock. The stock was sold at an average price of $9.90, for a total value of $281,041.20.

SoundHound AI Stock Performance

SoundHound AI stock traded down $0.50 during mid-day trading on Thursday, reaching $8.88. The company's stock had a trading volume of 15,602,424 shares, compared to its average volume of 38,204,952. The firm's fifty day moving average price is $12.00 and its two-hundred day moving average price is $10.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a market capitalization of $3.54 billion, a P/E ratio of -24.67 and a beta of 2.62.

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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 for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $34.54 million during the quarter, compared to analysts' expectations of $33.70 million. Sell-side analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SOUN. HC Wainwright reaffirmed a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. DA Davidson raised their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Wedbush raised their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Finally, Northland Securities upped their price objective 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.86.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds and other institutional investors have recently modified their holdings of SOUN. Commons Capital LLC boosted its position in shares of 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 acquiring an additional 723 shares during the period. ST Germain D J Co. Inc. boosted its holdings in SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock valued at $60,000 after purchasing an additional 750 shares during the period. Keynote Financial Services LLC grew its position 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 valued at $329,000 after purchasing an additional 752 shares in the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 830 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock worth $131,000 after buying an additional 929 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Company 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.