Oriental Harbor Investment Fund Invests $8.96 Million in SoundHound AI, Inc. (NASDAQ:SOUN)

Oriental Harbor Investment Fund acquired a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUNFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 451,794 shares of the company’s stock, valued at approximately $8,964,000. SoundHound AI accounts for 0.9% of Oriental Harbor Investment Fund’s portfolio, making the stock its 13th biggest holding. Oriental Harbor Investment Fund owned 0.12% of SoundHound AI as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SOUN. NBC Securities Inc. boosted its stake in shares of SoundHound AI by 97.8% during 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. Amalgamated Bank lifted its holdings in SoundHound AI by 108.0% during 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 in the last quarter. Farther Finance Advisors LLC boosted its position in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after buying an additional 6,716 shares during the period. Sei Investments Co. bought a new position in SoundHound AI in the 2nd quarter worth about $43,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after acquiring an additional 2,320 shares during the period. Institutional investors own 19.28% of the company’s stock.

Insider Buying and Selling at SoundHound AI

In related news, CTO Timothy Stonehocker sold 34,407 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $698,462.10. Following the transaction, the chief technology officer now directly owns 796,581 shares of the company’s stock, valued at $16,170,594.30. This represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Zagorsek sold 277,813 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total value of $5,903,526.25. Following the completion of the transaction, the chief operating officer now owns 1,473,322 shares of the company’s stock, valued at $31,308,092.50. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,782,918 shares of company stock worth $45,391,343. 12.28% of the stock is owned by insiders.

SoundHound AI Stock Down 17.6 %

Shares of SOUN stock traded down $3.17 during mid-day trading on Wednesday, hitting $14.81. 55,838,784 shares of the stock traded hands, compared to its average volume of 69,353,586. SoundHound AI, Inc. has a 52-week low of $1.62 and a 52-week high of $24.98. The stock has a market cap of $5.48 billion, a P/E ratio of -41.14 and a beta of 2.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock’s fifty day moving average is $12.72 and its two-hundred day moving average is $7.61.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOUN. Wedbush increased their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. HC Wainwright increased their target price on shares of SoundHound AI from $8.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, DA Davidson restated a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.07.

Read Our Latest Stock Analysis on SOUN

SoundHound AI Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SoundHound AI (NASDAQ:SOUN)

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