SoundHound AI Target of Unusually High Options Trading (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) saw some unusual options trading on Thursday. Investors purchased 63,734 call options on the company. This is an increase of 67% compared to the typical daily volume of 38,099 call options.

SoundHound AI Stock Up 4.5 %

Shares of SOUN stock traded up $0.21 on Thursday, reaching $4.84. The company's stock had a trading volume of 23,767,512 shares, compared to its average volume of 34,615,582. SoundHound AI has a 12-month low of $1.49 and a 12-month high of $10.25. The company has a market capitalization of $1.59 billion, a P/E ratio of -12.87 and a beta of 2.73. The stock's 50 day simple moving average is $4.80 and its 200-day simple moving average is $4.77.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The firm had revenue of $13.46 million for the quarter, compared to analysts' expectations of $13.09 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company's revenue for the quarter was up 53.8% on a year-over-year basis. Research analysts expect that SoundHound AI will post -0.36 EPS for the current year.

Insider Activity

In other news, CEO Keyvan Mohajer sold 90,641 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now directly owns 2,362,692 shares of the company's stock, valued at $11,529,936.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Timothy Stonehocker sold 20,337 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $99,244.56. Following the transaction, the chief technology officer now directly owns 1,039,194 shares of the company's stock, valued at approximately $5,071,266.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 90,641 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now directly owns 2,362,692 shares in the company, valued at approximately $11,529,936.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,275 shares of company stock valued at $1,606,644 in the last ninety days. 21.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of SoundHound AI by 17.3% in the first quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company's stock worth $80,000 after buying an additional 2,000 shares during the period. Genesee Capital Advisors LLC grew its stake in shares of SoundHound AI by 11.4% in the second quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company's stock worth $77,000 after purchasing an additional 2,000 shares during the last quarter. Signaturefd LLC grew its stake in shares of SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company's stock worth $41,000 after purchasing an additional 2,200 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company's stock worth $46,000 after purchasing an additional 2,320 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of SoundHound AI by 13.7% in the second quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company's stock worth $82,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOUN. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, September 18th. Northland Securities increased their price target on SoundHound AI from $5.50 to $6.00 and gave the company a "market perform" rating in a research report on Friday, August 9th. DA Davidson reaffirmed a "buy" rating and set a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush reissued an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. Finally, Cantor Fitzgerald raised SoundHound AI from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $5.00 to $7.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.08.

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.

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