Hexagon Capital Partners LLC Invests $29,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

Hexagon Capital Partners LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 5,000 shares of the company’s stock, valued at approximately $29,000.

A number of other large investors have also recently bought and sold shares of SOUN. Vanguard Group Inc. raised its holdings in shares of SoundHound AI by 18.6% in the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company’s stock valued at $26,466,000 after buying an additional 2,064,340 shares during the last quarter. Intrinsic Edge Capital Management LLC raised its stake in SoundHound AI by 47.7% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock valued at $10,278,000 after acquiring an additional 1,566,238 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of SoundHound AI in the 3rd quarter valued at approximately $457,000. Global Assets Advisory LLC acquired a new position in shares of SoundHound AI in the first quarter valued at approximately $819,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of SoundHound AI during the third quarter worth approximately $191,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Price Performance

SoundHound AI stock opened at $3.89 on Tuesday. The company has a current ratio of 8.84, a quick ratio of 8.84 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $4.64 and its 200 day simple moving average is $4.11. SoundHound AI, Inc. has a 52 week low of $1.49 and a 52 week high of $10.25.

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

Insider Activity at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 116,504 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $3.95, for a total value of $460,190.80. Following the transaction, the chief executive officer now directly owns 953,333 shares in the company, valued at approximately $3,765,665.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Keyvan Mohajer sold 116,504 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $3.95, for a total transaction of $460,190.80. Following the transaction, the chief executive officer now owns 953,333 shares of the company’s stock, valued at $3,765,665.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Ming Hom sold 16,716 shares of SoundHound AI stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $67,532.64. Following the completion of the sale, the insider now directly owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The disclosure for this sale can be found here. Insiders have sold a total of 417,728 shares of company stock valued at $1,815,476 over the last quarter. Insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a research note on Thursday, April 11th. Wedbush reiterated an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a research note on Friday, May 10th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Monday, May 13th. Finally, DA Davidson boosted their target price on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

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.