SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) CFO Nitesh Sharan sold 48,639 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $481,526.10. Following the completion of the sale, the chief financial officer now owns 1,454,011 shares in the company, valued at approximately $14,394,708.90. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
SoundHound AI Stock Performance
Shares of NASDAQ SOUN traded down $0.50 during trading on Thursday, reaching $8.88. 15,602,424 shares of the company traded hands, compared to its average volume of 38,204,952. 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 has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $10.52. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The stock has a market capitalization of $3.54 billion, a PE ratio of -24.67 and a beta of 2.62.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The company had revenue of $34.54 million during the quarter, compared to analysts' expectations of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.
Institutional Trading of SoundHound AI
Several large investors have recently modified their holdings of the company. Commons Capital LLC boosted its position in SoundHound AI by 2.7% in the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after purchasing an additional 723 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in shares of 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 worth $60,000 after purchasing an additional 750 shares during the period. Keynote Financial Services LLC boosted its holdings in shares of SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock worth $329,000 after buying an additional 752 shares during the last quarter. Blue Trust Inc. grew its position in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after buying an additional 830 shares during the period. Finally, Russell Investments Group Ltd. grew its position in SoundHound AI by 16.4% during the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock valued at $131,000 after buying an additional 929 shares during the period. Institutional investors own 19.28% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on SOUN. Wedbush boosted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research note on Tuesday, January 14th. DA Davidson upped their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.86.
Read Our Latest Stock Report on SOUN
SoundHound AI Company Profile
(
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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.
Further Reading
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