SoundHound AI, Inc. (NASDAQ:SOUN) Director Sells $251,000.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 50,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the director now directly owns 74,038 shares in the company, valued at $371,670.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, June 10th, Lawrence Marcus sold 50,000 shares of SoundHound AI stock. The stock was sold at an average price of $4.81, for a total transaction of $240,500.00.

SoundHound AI Trading Up 2.0 %

NASDAQ SOUN opened at $5.03 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -13.24 and a beta of 2.77. SoundHound AI, Inc. has a twelve month low of $1.49 and a twelve month high of $10.25. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $4.68 and its 200 day moving average is $4.87.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) earnings per share. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SOUN. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Monday, August 12th. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. Northland Securities lifted their target price on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, Wedbush reissued an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI has an average rating of “Moderate Buy” and an average target price of $7.08.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in shares of 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 acquiring an additional 2,000 shares during the last quarter. Genesee Capital Advisors LLC raised its position in SoundHound AI by 11.4% during the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares during the last quarter. Signaturefd LLC lifted its holdings in SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after buying an additional 2,200 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of SoundHound AI by 13.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after buying an additional 2,500 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of SoundHound AI by 16.5% in the first quarter. Principal Financial Group Inc. now owns 18,560 shares of the company’s stock valued at $109,000 after buying an additional 2,629 shares during the period. 19.28% of the stock is owned by 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.