SoundHound AI, Inc. (NASDAQ:SOUN) Shares Bought by IHT Wealth Management LLC

IHT Wealth Management LLC increased its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 67.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,023 shares of the company’s stock after acquiring an additional 15,738 shares during the period. IHT Wealth Management LLC’s holdings in SoundHound AI were worth $182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kings Path Partners LLC acquired a new stake in SoundHound AI in the 2nd quarter valued at $28,000. NBC Securities Inc. grew its stake in shares of SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after buying an additional 3,818 shares during the period. International Assets Investment Management LLC purchased a new position in shares of SoundHound AI during the 2nd quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its stake in shares of SoundHound AI by 298.5% in the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after purchasing an additional 6,716 shares during the period. Finally, Amalgamated Bank boosted its holdings in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after purchasing an additional 5,099 shares during the period. 19.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Timothy Stonehocker sold 20,337 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $99,244.56. Following the sale, the chief technology officer now owns 1,039,194 shares of the company’s stock, valued at $5,071,266.72. The trade was a 1.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Zagorsek sold 42,001 shares of SoundHound AI stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $204,964.88. Following the transaction, the chief operating officer now directly owns 1,473,322 shares of the company’s stock, valued at $7,189,811.36. This represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,035,416 shares of company stock worth $26,334,544 in the last ninety days. Insiders own 12.28% of the company’s stock.

SoundHound AI Stock Down 5.5 %

Shares of SOUN stock opened at $14.23 on Wednesday. The business’s fifty day moving average is $6.88 and its 200-day moving average is $5.48. The stock has a market cap of $5.26 billion, a PE ratio of -39.53 and a beta of 3.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $16.07.

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

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of research reports. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush restated an “outperform” rating and set a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. HC Wainwright lifted their price objective on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, DA Davidson reissued a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

SoundHound AI 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.