SoundHound AI (NASDAQ:SOUN) Trading Down 0.3%

SoundHound AI, Inc. (NASDAQ:SOUN) shares traded down 0.3% on Thursday . The stock traded as low as $3.86 and last traded at $3.93. 8,949,342 shares were traded during trading, a decline of 36% from the average session volume of 14,005,605 shares. The stock had previously closed at $3.94.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SOUN shares. Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Friday, May 10th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target on the stock in a report on Thursday, April 11th. Finally, DA Davidson upped their price objective on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

SoundHound AI Price Performance

The business has a fifty day moving average of $4.63 and a 200 day moving average of $4.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The stock has a market cap of $1.29 billion, a PE ratio of -10.34 and a beta of 2.76.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The company had revenue of $11.59 million during the quarter, compared to analyst estimates of $10.10 million. During the same period last year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 72.9% compared to the same quarter last year. Sell-side analysts anticipate that SoundHound AI, Inc. will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other SoundHound AI news, CEO Keyvan Mohajer sold 116,504 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $3.95, for a total value of $460,190.80. Following the sale, the chief executive officer now directly owns 953,333 shares in the company, valued at $3,765,665.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Nitesh Sharan sold 22,384 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $90,431.36. Following the sale, the chief financial officer now directly owns 728,633 shares in the company, valued at approximately $2,943,677.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Keyvan Mohajer sold 116,504 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $3.95, for a total value of $460,190.80. Following the completion of the transaction, the chief executive officer now directly owns 953,333 shares of the company’s stock, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Insiders have sold 417,728 shares of company stock valued at $1,815,476 over the last quarter. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOUN. Independent Advisor Alliance acquired a new position in shares of SoundHound AI in the 4th quarter valued at $28,000. IAM Advisory LLC acquired a new position in shares of SoundHound AI in the fourth quarter worth about $29,000. Hexagon Capital Partners LLC purchased a new position in shares of SoundHound AI in the first quarter worth approximately $29,000. HighPoint Advisor Group LLC purchased a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $37,000. Finally, DecisionPoint Financial LLC acquired a new position in SoundHound AI in the 1st quarter worth approximately $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.