Wolverine Asset Management LLC Has $164,000 Stock Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Wolverine Asset Management LLC raised its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,102 shares of the company’s stock after acquiring an additional 2,522 shares during the quarter. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $164,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SOUN. Janney Montgomery Scott LLC bought a new position in SoundHound AI during the 1st quarter worth $109,000. Concurrent Investment Advisors LLC bought a new position in shares of SoundHound AI during the first quarter worth about $199,000. Avantax Advisory Services Inc. acquired a new position in shares of SoundHound AI in the first quarter worth approximately $63,000. ARK & TLK Investments LLC acquired a new stake in SoundHound AI during the 1st quarter valued at approximately $74,000. Finally, Viawealth LLC acquired a new stake in SoundHound AI during the 1st quarter valued at approximately $65,000. Institutional investors own 19.28% of the company’s stock.

Insider Activity at SoundHound AI

In other news, CEO Keyvan Mohajer sold 90,641 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $442,328.08. Following the completion of the sale, the chief executive officer now owns 2,362,692 shares in the company, valued at $11,529,936.96. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the director now owns 74,038 shares in the company, valued at approximately $371,670.76. This trade represents a 40.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,275 shares of company stock valued at $1,606,644. 12.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SOUN has been the topic of a number of analyst reports. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Thursday, September 26th. Northland Securities boosted their price objective on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. HC Wainwright raised their target price on SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.00 to $7.00 in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

SoundHound AI Stock Up 5.7 %

NASDAQ SOUN opened at $6.63 on Friday. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $10.25. The business has a 50 day moving average price of $5.26 and a 200-day moving average price of $4.94. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -18.42 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 73.21%. SoundHound AI’s quarterly revenue was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, equities research analysts anticipate that SoundHound AI, Inc. will post -0.36 earnings per share for the current year.

About SoundHound AI

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.