SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) Director Diana Sroka sold 3,402 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the completion of the transaction, the director now owns 138,850 shares of the company's stock, valued at $1,399,608. The trade was a 2.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
SoundHound AI Trading Down 5.3 %
Shares of NASDAQ:SOUN traded down $0.50 during midday 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 has a market cap of $3.54 billion, a price-to-earnings ratio of -24.67 and a beta of 2.62. The business has a 50 day moving average price of $12.00 and a 200 day moving average price of $10.52. SoundHound AI, Inc. has a 1 year low of $3.50 and a 1 year high of $24.98. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued 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). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. Research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Wedbush increased their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Northland Securities raised their price target on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 14th. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, DA Davidson boosted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $12.86.
View Our Latest Stock Analysis on SOUN
Institutional Trading of SoundHound AI
A number of institutional investors and hedge funds have recently made changes to their positions in the company. 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 acquiring an additional 830 shares during the period. Sound Income Strategies LLC lifted its stake in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of SoundHound AI during the 4th quarter worth about $30,000. Future Financial Wealth Managment LLC acquired a new stake in SoundHound AI during the 4th quarter worth approximately $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.
About SoundHound AI
(
Get Free Report)
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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