SoundHound AI (NASDAQ:SOUN) Trading 1.8% Higher

SoundHound AI, Inc. (NASDAQ:SOUN) shares traded up 1.8% during mid-day trading on Tuesday . The stock traded as high as $4.08 and last traded at $3.96. Approximately 3,446,344 shares changed hands during trading, a decline of 92% from the average session volume of 41,557,090 shares. The stock had previously closed at $3.89.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. DA Davidson lifted their target price on shares of SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, March 15th. 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 report on Thursday, April 11th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Monday, May 13th. Finally, 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

SoundHound AI Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The stock has a market cap of $1.29 billion, a PE ratio of -10.42 and a beta of 2.77. The company’s fifty day moving average is $4.64 and its 200-day moving average is $4.11.

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

Insider Activity at SoundHound AI

In other news, CTO Timothy Stonehocker sold 104,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $5.00, for a total value of $520,000.00. Following the completion of the sale, the chief technology officer now directly owns 883,570 shares in the company, valued at $4,417,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Timothy Stonehocker sold 104,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $5.00, for a total transaction of $520,000.00. Following the transaction, the chief technology officer now owns 883,570 shares in the company, valued at approximately $4,417,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 116,504 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $3.95, for a total transaction of $460,190.80. Following the completion of the sale, the chief executive officer now directly owns 953,333 shares of the company’s stock, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 417,728 shares of company stock worth $1,815,476. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundHound AI

Institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new stake in shares of SoundHound AI during the third quarter worth approximately $191,000. Quadrature Capital Ltd acquired a new stake in shares of SoundHound AI in the third quarter valued at about $457,000. Vanguard Group Inc. lifted its stake 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 worth $26,466,000 after buying an additional 2,064,340 shares in the last quarter. IAM Advisory LLC acquired a new position in SoundHound AI during the fourth quarter worth about $29,000. Finally, SG Americas Securities LLC grew its stake in SoundHound AI by 40.2% during the 4th quarter. SG Americas Securities LLC now owns 38,243 shares of the company’s stock valued at $81,000 after acquiring an additional 10,957 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

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.