SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 28,388 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 28,388 shares of SoundHound AI stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now directly owns 689,652 shares in the company, valued at approximately $6,827,554.80. The trade was a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

James Ming Hom also recently made the following trade(s):

• On Monday, March 24th, James Ming Hom sold 51,196 shares of SoundHound AI stock. The shares were sold at an average price of $10.25, for a total value of $524,759.00.

SoundHound AI Stock Performance

SOUN stock traded up $0.45 during trading on Monday, reaching $10.31. The company had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a twelve month low of $3.50 and a twelve month high of $24.98. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.62. The firm has a 50-day simple moving average of $12.19 and a 200-day simple moving average of $10.44.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. As a group, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research report on Monday, February 24th. DA Davidson raised their price target on shares of SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Northland Securities boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. HC Wainwright restated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research note on Monday, March 3rd. Finally, Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOUN. Blue Trust Inc. boosted its position in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after buying an additional 830 shares during the last quarter. Sound Income Strategies LLC lifted its stake in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 1,271 shares during the period. Orion Capital Management LLC purchased a new stake in shares of SoundHound AI in the 4th quarter valued at $30,000. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the fourth quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of SoundHound AI during the fourth quarter worth $40,000. 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.