SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka Sells 3,402 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 3,402 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $34,292.16. Following the sale, the director now directly owns 138,850 shares in the company, valued at approximately $1,399,608. This represents a 2.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $10.31 on Tuesday. The firm has a market cap of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 1-year low of $3.50 and a 1-year high of $24.98. The firm has a 50 day simple moving average of $12.14 and a 200-day simple moving average of $10.48.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS 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 business had revenue of $34.54 million during the quarter, compared to analysts’ expectations of $33.70 million. On average, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in SoundHound AI by 230.9% in the third quarter. Victory Capital Management Inc. now owns 120,812 shares of the company’s stock valued at $563,000 after purchasing an additional 84,301 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of SoundHound AI by 11.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock valued at $89,000 after buying an additional 1,887 shares during the period. Intech Investment Management LLC acquired a new stake in shares of SoundHound AI during the 3rd quarter worth $305,000. Charles Schwab Investment Management Inc. raised its position in shares of SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after buying an additional 189,109 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in SoundHound AI in the third quarter valued at $431,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.