SoundHound AI (NASDAQ:SOUN) Shares Up 0.2%

SoundHound AI, Inc. (NASDAQ:SOUN)’s share price traded up 0.2% during mid-day trading on Friday . The company traded as high as $5.06 and last traded at $5.01. 5,242,716 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 41,826,734 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SOUN. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Monday, May 13th. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective for the company in a research note on Thursday, April 11th. Finally, Wedbush restated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.88.

SoundHound AI Stock Up 1.0 %

The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $4.72 and a 200 day moving average of $4.33. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -13.18 and a beta of 2.76.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 9th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The firm had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $10.10 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The firm’s quarterly revenue was up 72.9% compared to the same quarter last year. As a group, analysts expect that SoundHound AI, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 67,994 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $4.04, for a total value of $274,695.76. Following the completion of the sale, the chief executive officer now owns 1,069,837 shares in the company, valued at $4,322,141.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other SoundHound AI news, CEO Keyvan Mohajer sold 67,994 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $4.04, for a total value of $274,695.76. Following the transaction, the chief executive officer now directly owns 1,069,837 shares of the company’s stock, valued at approximately $4,322,141.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Nitesh Sharan sold 22,384 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $90,431.36. Following the transaction, the chief financial officer now owns 728,633 shares of the company’s stock, valued at $2,943,677.32. The disclosure for this sale can be found here. Insiders have sold 625,728 shares of company stock worth $3,011,476 over the last ninety days. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Genesee Capital Advisors LLC raised its stake in shares of SoundHound AI by 11.4% during the second quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after acquiring an additional 2,000 shares in the last quarter. Kessler Investment Group LLC increased its stake in shares of SoundHound AI by 42.5% in the second quarter. Kessler Investment Group LLC now owns 33,812 shares of the company’s stock worth $134,000 after buying an additional 10,079 shares during the period. Sequoia Financial Advisors LLC increased its position in SoundHound AI by 13.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after purchasing an additional 2,500 shares during the period. SG Americas Securities LLC boosted its holdings in shares of SoundHound AI by 1,039.3% during the 2nd quarter. SG Americas Securities LLC now owns 213,775 shares of the company’s stock valued at $844,000 after buying an additional 195,011 shares in the last quarter. Finally, City State Bank boosted its stake in SoundHound AI by 1,225.0% in the 2nd quarter. City State Bank now owns 11,925 shares of the company’s stock worth $47,000 after purchasing an additional 11,025 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

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.