SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s stock price was up 7% during trading on Tuesday . The stock traded as high as $11.90 and last traded at $11.74. Approximately 41,826,841 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 57,615,789 shares. The stock had previously closed at $10.97.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on SOUN. Northland Securities boosted their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Wedbush upped their price objective 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. Barclays reissued a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, LADENBURG THALM/SH SH reissued a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.
Read Our Latest Stock Analysis on SOUN
SoundHound AI Price Performance
The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.56. 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 company's 50-day moving average price is $16.38 and its 200-day moving average price is $9.67.
Insider Transactions at SoundHound AI
In other news, Director Eric R. Ball sold 30,000 shares of the stock in a transaction dated 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. This represents a 21.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Ming Hom sold 53,891 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $538,910.00. Following the sale, the insider now directly owns 813,193 shares in the company, valued at $8,131,930. This represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,752,918 shares of company stock valued at $45,176,843. 12.28% of the stock is currently owned by corporate insiders.
Institutional Trading of SoundHound AI
Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in SoundHound AI by 197.6% in 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 in the last quarter. Sound Income Strategies LLC increased its stake 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 valued at $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 valued at approximately $30,000. Future Financial Wealth Managment LLC purchased a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in SoundHound AI in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 19.28% of the company's stock.
SoundHound AI Company Profile
(
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
Before you consider SoundHound AI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SoundHound AI wasn't on the list.
While SoundHound AI currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
