Genesee Capital Advisors LLC Has $341,000 Holdings in SoundHound AI, Inc. (NASDAQ:SOUN)

Genesee Capital Advisors LLC grew its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,168 shares of the company’s stock after acquiring an additional 1,050 shares during the period. Genesee Capital Advisors LLC’s holdings in SoundHound AI were worth $341,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC raised its position in shares of SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 1,271 shares in the last quarter. NBC Securities Inc. increased its stake in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after acquiring an additional 3,818 shares during the last quarter. Amalgamated Bank grew its stake in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of SoundHound AI during the fourth quarter worth $40,000. Finally, Farther Finance Advisors LLC grew its stake in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after buying an additional 6,716 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other SoundHound AI news, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the sale, the director now directly owns 108,117 shares of the company’s stock, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Company insiders own 12.28% of the company’s stock.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $14.23 on Wednesday. The firm’s 50-day moving average price is $15.22 and its 200-day moving average price is $8.70. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The firm has a market capitalization of $5.26 billion, a P/E ratio of -39.53 and a beta of 2.63. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.36.

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.