SoundHound AI (NASDAQ:SOUN) Trading 0.3% Higher

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) rose 0.3% during mid-day trading on Friday . The stock traded as high as $4.13 and last traded at $4.00. Approximately 3,816,449 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 41,877,000 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

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

SoundHound AI Trading Down 1.0 %

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -10.53 and a beta of 2.87. 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 business has a fifty day moving average price of $4.63 and a 200 day moving average price of $4.06.

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

Insider Buying and Selling at SoundHound AI

In other news, insider James Ming Hom sold 16,716 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $4.04, for a total transaction of $67,532.64. Following the transaction, the insider now owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lawrence Marcus sold 50,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.81, for a total transaction of $240,500.00. Following the sale, the director now owns 208,117 shares in the company, valued at $1,001,042.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Ming Hom sold 16,716 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $67,532.64. Following the sale, the insider now owns 486,989 shares in the company, valued at approximately $1,967,435.56. The disclosure for this sale can be found here. Insiders sold a total of 417,728 shares of company stock valued at $1,815,476 in the last ninety days. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

Several institutional investors and hedge funds have recently bought and sold shares of SOUN. Swiss National Bank increased its stake in shares of SoundHound AI by 12.0% in the third quarter. Swiss National Bank now owns 351,500 shares of the company’s stock valued at $707,000 after purchasing an additional 37,700 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of SoundHound AI in the third quarter valued at approximately $191,000. Quadrature Capital Ltd acquired a new position in shares of SoundHound AI during the third quarter valued at approximately $457,000. Vanguard Group Inc. increased its stake in shares of SoundHound AI by 18.6% during the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company’s stock valued at $26,466,000 after acquiring an additional 2,064,340 shares during the period. Finally, IAM Advisory LLC acquired a new position in shares of SoundHound AI during the fourth quarter valued at approximately $29,000. 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.