Shares of SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) traded up 4.1% during mid-day trading on Thursday . The company traded as high as $14.59 and last traded at $14.55. 11,040,248 shares were traded during trading, a decline of 79% from the average session volume of 53,361,348 shares. The stock had previously closed at $13.97.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Northland Securities lifted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research note on Tuesday, January 14th. LADENBURG THALM/SH SH 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 boosted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.
Read Our Latest Stock Report on SOUN
SoundHound AI Stock Down 28.1 %
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 stock's fifty day moving average price is $16.62 and its two-hundred day moving average price is $9.53.
Insider Buying and Selling at SoundHound AI
In other news, Director Lawrence Marcus sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00. Following the sale, the director now owns 178,117 shares in the company, valued at $1,273,536.55. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the firm'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 completion of the sale, the chief executive officer now owns 2,299,148 shares in the company, valued at $34,579,185.92. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,782,918 shares of company stock valued at $45,391,343. Corporate insiders own 12.28% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of SOUN. Blue Trust Inc. raised its position 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 valued at $25,000 after purchasing an additional 830 shares during the period. Sound Income Strategies LLC raised its position in shares of SoundHound AI by 2,542.0% during the 4th 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 period. NBC Securities Inc. raised its position in shares of SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after purchasing an additional 3,818 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of SoundHound AI during the 4th quarter valued at $40,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of SoundHound AI during the 4th quarter valued at $40,000. Hedge funds and other institutional investors 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.
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