SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) traded down 4% during trading on Tuesday . The stock traded as low as $14.62 and last traded at $14.71. 12,132,761 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 55,219,621 shares. The stock had previously closed at $15.33.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. LADENBURG THALM/SH SH reissued a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays restated a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. Finally, HC Wainwright restated a "buy" rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, SoundHound AI presently has an average rating of "Moderate Buy" and a consensus price target of $12.36.
Check Out Our Latest Stock Report on SOUN
SoundHound AI Price Performance
The company has a 50-day moving average price of $16.62 and a 200-day moving average price of $9.53. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.
Insider Buying and Selling at SoundHound AI
In other SoundHound AI news, VP Majid Emami sold 37,459 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the transaction, the vice president now directly owns 698,226 shares of the company's stock, valued at $14,173,987.80. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lawrence Marcus sold 30,000 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the sale, the director now owns 178,117 shares of the company's stock, valued at approximately $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Corporate insiders own 12.28% of the company's stock.
Institutional Investors Weigh In On SoundHound AI
Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in SoundHound AI by 40.2% during the second quarter. AQR Capital Management LLC now owns 29,417 shares of the company's stock worth $116,000 after purchasing an additional 8,440 shares during the period. Sanctuary Advisors LLC acquired a new stake in SoundHound AI during the second quarter worth approximately $104,000. Creative Planning bought a new position in SoundHound AI in the third quarter worth approximately $91,000. NBC Securities Inc. boosted its holdings in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after acquiring an additional 3,818 shares in the last quarter. Finally, TriaGen Wealth Management LLC bought a new position in shares of SoundHound AI in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 19.28% of the company's stock.
About SoundHound AI
(
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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.
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