SoundHound AI, Inc. (NASDAQ:SOUN) Director Sells 25,000 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 25,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $14.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 128,117 shares of the company’s stock, valued at $1,793,638. This represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lawrence Marcus also recently made the following trade(s):

• On Thursday, November 21st, Lawrence Marcus sold 30,000 shares of SoundHound AI stock. The shares were sold at an average price of $7.15, for a total transaction of $214,500.00.

SoundHound AI Stock Up 16.4 %

SOUN traded up $2.78 during trading on Monday, hitting $19.69. The stock had a trading volume of 176,543,847 shares, compared to its average volume of 39,036,742. The stock has a 50 day simple moving average of $7.48 and a two-hundred day simple moving average of $5.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a twelve month low of $1.62 and a twelve month high of $19.97. The company has a market capitalization of $7.28 billion, a PE ratio of -52.39 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same period in the previous year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was up 88.7% on a year-over-year basis. On average, research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Wedbush increased their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday. HC Wainwright raised their target price on shares of SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, SoundHound AI has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Hedge Funds Weigh In On SoundHound AI

Several hedge funds have recently modified their holdings of SOUN. Kings Path Partners LLC acquired a new stake in SoundHound AI in the 2nd quarter worth approximately $28,000. NBC Securities Inc. raised its holdings in shares of 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 buying an additional 3,818 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI during the second quarter worth $31,000. Farther Finance Advisors LLC grew its holdings in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after acquiring an additional 5,099 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.