SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) shot up 0.8% during trading on Wednesday . The company traded as high as $11.92 and last traded at $11.53. 18,385,452 shares changed hands during trading, a decline of 68% from the average session volume of 57,514,824 shares. The stock had previously closed at $11.44.
Analyst Ratings Changes
SOUN has been the subject of several research reports. Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 14th. Barclays restated a "neutral" rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. Wedbush lifted their price target on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Finally, LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.
Check Out Our Latest Report on SoundHound AI
SoundHound AI Stock Down 5.5 %
The company's fifty day simple moving average is $16.24 and its 200-day simple moving average is $9.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market capitalization of $4.05 billion, a PE ratio of -28.64 and a beta of 2.56.
Insider Buying and Selling
In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.03, for a total transaction of $240,900.00. Following the sale, the director now owns 110,907 shares of the company's stock, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 465,394 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at approximately $34,579,185.92. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,752,918 shares of company stock worth $45,176,843 in the last ninety days. 12.28% of the stock is owned by insiders.
Hedge Funds Weigh In On SoundHound AI
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in SoundHound AI by 35.6% during the 4th quarter. Vanguard Group Inc. now owns 32,031,662 shares of the company's stock valued at $635,508,000 after purchasing an additional 8,402,881 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in SoundHound AI in the fourth quarter valued at approximately $41,595,000. Invesco Ltd. raised its position in SoundHound AI by 1,386.2% during the 4th quarter. Invesco Ltd. now owns 1,382,371 shares of the company's stock worth $27,426,000 after buying an additional 1,289,360 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in SoundHound AI during the 4th quarter worth approximately $16,421,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of SoundHound AI in the 4th quarter valued at $16,092,000. Hedge funds and other institutional investors own 19.28% of the company's stock.
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.
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