SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) saw unusually large options trading activity on Friday. Stock investors bought 375,284 call options on the company. This is an increase of 292% compared to the average volume of 95,707 call options.
Insiders Place Their Bets
In related news, VP Majid Emami sold 298,086 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $4,483,213.44. Following the sale, the vice president now directly owns 735,685 shares in the company, valued at approximately $11,064,702.40. The trade was a 28.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Zagorsek sold 42,001 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $204,964.88. Following the completion of the transaction, the chief operating officer now directly owns 1,473,322 shares in the company, valued at $7,189,811.36. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,035,416 shares of company stock valued at $26,334,544 over the last ninety days. Company insiders own 12.28% of the company's stock.
Institutional Investors Weigh In On SoundHound AI
Several institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in SoundHound AI by 11.0% in the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company's stock valued at $89,000 after buying an additional 1,887 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of SoundHound AI by 13.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company's stock valued at $80,000 after acquiring an additional 1,975 shares during the last quarter. Genesee Capital Advisors LLC raised its position in shares of SoundHound AI by 11.4% during the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company's stock worth $77,000 after acquiring an additional 2,000 shares in the last quarter. Signaturefd LLC lifted its stake in SoundHound AI by 19.5% during the third quarter. Signaturefd LLC now owns 12,255 shares of the company's stock worth $57,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company's stock valued at $46,000 after purchasing an additional 2,320 shares in the last quarter. 19.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. DA Davidson reaffirmed a "buy" rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Barclays restated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright lifted their price objective on SoundHound AI from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Wedbush reissued an "outperform" rating and set a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. Finally, LADENBURG THALM/SH SH reiterated a "neutral" rating and set a $7.00 price target 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.64.
View Our Latest Analysis on SoundHound AI
SoundHound AI Stock Up 23.7 %
NASDAQ SOUN traded up $3.24 during trading hours on Friday, hitting $16.91. 159,555,444 shares of the company were exchanged, compared to its average volume of 38,463,582. The company has a 50 day moving average of $7.48 and a two-hundred day moving average of $5.69. 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 firm has a market cap of $6.25 billion, a price-to-earnings ratio of -46.97 and a beta of 3.03. SoundHound AI has a 52-week low of $1.62 and a 52-week high of $17.29.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business's quarterly revenue was up 88.7% compared to the same quarter last year. Equities research analysts anticipate that SoundHound AI will post -0.38 earnings per share for the current year.
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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