SoundHound AI (NASDAQ:SOUN) Trading Down 0.8%

SoundHound AI, Inc. (NASDAQ:SOUN) fell 0.8% during trading on Monday . The company traded as low as $4.92 and last traded at $4.99. 5,427,573 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 38,950,270 shares. The stock had previously closed at $5.03.

Analyst Ratings Changes

A number of research firms recently commented on SOUN. Northland Securities upped their price objective on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $5.00 to $7.00 in a research note on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a research note on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.08.

SoundHound AI Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -13.13 and a beta of 2.77. The business has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $4.92.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at SoundHound AI

In other news, insider James Ming Hom sold 16,716 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $67,532.64. Following the completion of the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider James Ming Hom sold 16,716 shares of the 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 $67,532.64. Following the completion of the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Timothy Stonehocker sold 16,039 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $4.04, for a total value of $64,797.56. Following the transaction, the chief technology officer now directly owns 867,531 shares of the company’s stock, valued at $3,504,825.24. The disclosure for this sale can be found here. Insiders sold 675,728 shares of company stock valued at $3,262,476 over the last three months. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new position in SoundHound AI during the first quarter valued at approximately $29,000. DecisionPoint Financial LLC acquired a new position in SoundHound AI during the first quarter valued at approximately $40,000. Kings Path Partners LLC acquired a new position in SoundHound AI during the second quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new stake in SoundHound AI in the second quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in SoundHound AI in the first quarter valued at approximately $55,000. 19.28% of the stock is owned by institutional investors and hedge funds.

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.