SoundHound AI (NASDAQ:SOUN) Shares Up 1.4%

SoundHound AI, Inc. (NASDAQ:SOUN) traded up 1.4% on Monday . The company traded as high as $4.49 and last traded at $4.49. 5,145,068 shares were traded during mid-day trading, a decline of 88% from the average session volume of 43,791,199 shares. The stock had previously closed at $4.43.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Friday, May 10th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a report on Thursday, April 11th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. 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 report on Friday, March 15th. Two investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $6.88.

SoundHound AI Trading Down 4.7 %

The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84. The stock’s fifty day moving average is $4.67 and its 200 day moving average is $3.98. The stock has a market cap of $1.35 billion, a P/E ratio of -10.76 and a beta of 2.87.

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

Insiders Place Their Bets

In other SoundHound AI news, CTO Timothy Stonehocker sold 5,276 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $7.70, for a total value of $40,625.20. Following the completion of the sale, the chief technology officer now owns 982,584 shares of the company’s stock, valued at $7,565,896.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Keyvan Mohajer sold 31,665 shares of SoundHound AI stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $6.08, for a total transaction of $192,523.20. Following the completion of the sale, the chief executive officer now owns 1,137,831 shares of the company’s stock, valued at $6,918,012.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Timothy Stonehocker sold 5,276 shares of SoundHound AI stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.70, for a total transaction of $40,625.20. Following the sale, the chief technology officer now directly owns 982,584 shares of the company’s stock, valued at approximately $7,565,896.80. The disclosure for this sale can be found here. Insiders sold a total of 190,941 shares of company stock valued at $993,648 over the last 90 days. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

Several institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings in SoundHound AI by 17.3% during the first quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock valued at $80,000 after buying an additional 2,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of SoundHound AI by 16.5% during the first quarter. Principal Financial Group Inc. now owns 18,560 shares of the company’s stock worth $109,000 after buying an additional 2,629 shares during the period. Hexagon Capital Partners LLC acquired a new stake in SoundHound AI during the 1st quarter worth about $29,000. Victory Capital Management Inc. grew its position in SoundHound AI by 45.0% during the 3rd quarter. Victory Capital Management Inc. now owns 21,658 shares of the company’s stock worth $44,000 after purchasing an additional 6,717 shares during the period. Finally, DecisionPoint Financial LLC acquired a new stake in SoundHound AI during the 1st quarter worth about $40,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

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.