SoundHound AI (NASDAQ:SOUN) Trading Down 7.1% - Time to Sell?

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) shares traded down 7.1% on Tuesday . The stock traded as low as $12.71 and last traded at $13.07. 25,338,579 shares traded hands during trading, a decline of 61% from the average session volume of 64,823,898 shares. The stock had previously closed at $14.07.

Analyst Ratings Changes

SOUN has been the subject of several recent research reports. Northland Securities raised 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. Barclays reiterated a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. HC Wainwright reissued a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Finally, LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.

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SoundHound AI Stock Up 1.4 %

The firm's 50-day moving average price is $15.51 and its two-hundred day moving average price is $8.77. 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 firm has a market cap of $5.25 billion, a PE ratio of -39.39 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to analysts' expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI's quarterly revenue was up 88.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, equities research analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at SoundHound AI

In other news, CTO Timothy Stonehocker sold 34,407 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the sale, the chief technology officer now owns 796,581 shares in the company, valued at approximately $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Marcus sold 30,000 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the completion of the transaction, the director now owns 178,117 shares in the company, valued at $1,273,536.55. This trade represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 in the last three months. 12.28% of the stock is currently owned by company insiders.

Institutional Trading of SoundHound AI

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Sound Income Strategies LLC increased its stake in 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 buying an additional 1,271 shares during the period. NBC Securities Inc. raised its position in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after buying an additional 3,818 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the 4th quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of SoundHound AI in the fourth quarter valued at about $40,000. 19.28% of the stock is owned by institutional investors and hedge funds.

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.