SoundHound AI (NASDAQ:SOUN) Trading 1.8% Higher

SoundHound AI, Inc. (NASDAQ:SOUN) shares traded up 1.8% during mid-day trading on Monday . The stock traded as high as $5.30 and last traded at $5.14. 9,283,058 shares were traded during trading, a decline of 81% from the average session volume of 48,995,973 shares. The stock had previously closed at $5.05.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DA Davidson increased their target price on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, March 15th. LADENBURG THALM/SH SH assumed coverage on SoundHound AI in a research note on Tuesday, January 30th. They set a “buy” rating and a $4.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Monday, May 13th. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Friday, May 10th. Two 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, SoundHound AI presently has an average rating of “Moderate Buy” and a consensus target price of $6.88.

SoundHound AI Trading Up 1.6 %

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 firm has a 50-day moving average price of $5.33 and a two-hundred day moving average price of $3.62.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $11.59 million for 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 business’s quarterly revenue was up 72.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) EPS. Equities analysts forecast that SoundHound AI, Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, CEO Keyvan Mohajer sold 31,665 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $6.08, for a total transaction of $192,523.20. Following the transaction, the chief executive officer now owns 1,137,831 shares in the company, valued at approximately $6,918,012.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Keyvan Mohajer sold 31,665 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $6.08, for a total transaction of $192,523.20. Following the transaction, the chief executive officer now owns 1,137,831 shares in the company, valued at approximately $6,918,012.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Timothy Stonehocker sold 5,276 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.70, for a total value of $40,625.20. Following the transaction, the chief technology officer now owns 982,584 shares in the company, valued at approximately $7,565,896.80. The disclosure for this sale can be found here. Insiders have sold 290,515 shares of company stock worth $2,164,925 in the last quarter. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SOUN. Vanguard Group Inc. grew its stake in shares of SoundHound AI by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock valued at $94,655,000 after purchasing an additional 2,226,471 shares during the last quarter. Intrinsic Edge Capital Management LLC grew its stake in shares of SoundHound AI by 47.7% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 4,848,211 shares of the company’s stock valued at $10,278,000 after purchasing an additional 1,566,238 shares during the last quarter. Baupost Group LLC MA purchased a new position in shares of SoundHound AI in the 1st quarter valued at approximately $6,659,000. Raymond James & Associates grew its stake in shares of SoundHound AI by 221.1% in the 3rd quarter. Raymond James & Associates now owns 982,948 shares of the company’s stock valued at $1,976,000 after purchasing an additional 676,799 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of SoundHound AI by 563.0% in the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock valued at $2,843,000 after purchasing an additional 409,917 shares during the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

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.