SoundHound AI, Inc. (NASDAQ:SOUN) Director Sells $350,000.00 in Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Lawrence Marcus sold 25,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $14.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now owns 128,117 shares of the company’s stock, valued at approximately $1,793,638. This represents a 16.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, November 21st, Lawrence Marcus sold 30,000 shares of SoundHound AI stock. The stock was sold at an average price of $7.15, for a total value of $214,500.00.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $20.84 on Thursday. The firm has a market capitalization of $7.71 billion, a P/E ratio of -57.89 and a beta of 3.03. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $8.39 and its two-hundred day moving average price is $6.00. SoundHound AI, Inc. has a 1 year low of $1.62 and a 1 year high of $24.08.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOUN shares. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. Barclays restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright raised their price target on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush boosted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kings Path Partners LLC acquired a new stake in SoundHound AI during the 2nd quarter valued at $28,000. NBC Securities Inc. raised its position in shares of 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 purchasing an additional 3,818 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth about $31,000. Farther Finance Advisors LLC boosted its holdings in shares of SoundHound AI by 298.5% during the 3rd 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 period. Finally, Amalgamated Bank grew its stake in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after buying an additional 5,099 shares during the last quarter. 19.28% of the stock is currently 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.