James Ming Hom Sells 28,388 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) insider James Ming Hom sold 28,388 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,041.20. Following the transaction, the insider now owns 689,652 shares of the company's stock, valued at approximately $6,827,554.80. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 24th, James Ming Hom sold 51,196 shares of SoundHound AI stock. The stock was sold at an average price of $10.25, for a total value of $524,759.00.

SoundHound AI Stock Down 5.3 %

NASDAQ:SOUN traded down $0.50 during trading hours 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 stock has a 50 day moving average price of $12.00 and a two-hundred day moving average price of $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. The company has a market capitalization of $3.54 billion, a P/E ratio of -24.67 and a beta of 2.62. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98.

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SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate 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 company had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. Equities analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SOUN has been the topic of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $26.00 price target on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush upped their target price 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. Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th. Northland Securities boosted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a report on Tuesday, January 14th. Finally, DA Davidson raised their price objective on SoundHound AI from $9.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, SoundHound AI currently has an average rating of "Hold" and a consensus price target of $12.86.

Institutional Trading of SoundHound AI

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares in the last quarter. Sound Income Strategies LLC grew its holdings in SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 1,271 shares during the last quarter. Orion Capital Management LLC purchased a new position in SoundHound AI in the fourth quarter worth $30,000. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI during the fourth quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of SoundHound AI during the 4th quarter valued at $40,000. 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.