SoundHound AI (NASDAQ:SOUN) Stock Price Down 1.3%

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price was down 1.3% during trading on Friday . The company traded as low as $3.72 and last traded at $3.78. Approximately 5,302,538 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 53,413,871 shares. The stock had previously closed at $3.83.

Analyst Ratings Changes

A number of equities analysts have commented on SOUN shares. Wedbush boosted their price target on shares of SoundHound AI from $5.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Northland Securities restated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. DA Davidson increased their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. LADENBURG THALM/SH SH initiated coverage on SoundHound AI in a research note on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.88.

SoundHound AI Trading Down 5.5 %

The company has a market cap of $1.12 billion, a P/E ratio of -9.28 and a beta of 2.75. The business has a fifty day moving average price of $5.34 and a 200-day moving average price of $3.13. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 6.03.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The company had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.75 million. During the same quarter last year, the business earned ($0.15) EPS. SoundHound AI’s revenue was up 80.0% on a year-over-year basis. On average, analysts forecast that SoundHound AI, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at SoundHound AI

In other news, CEO Keyvan Mohajer sold 107,927 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $3.70, for a total transaction of $399,329.90. Following the sale, the chief executive officer now directly owns 1,218,712 shares in the company, valued at $4,509,234.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SoundHound AI news, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $7.00, for a total value of $350,000.00. Following the transaction, the director now directly owns 333,117 shares of the company’s stock, valued at $2,331,819. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keyvan Mohajer sold 107,927 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the transaction, the chief executive officer now directly owns 1,218,712 shares in the company, valued at $4,509,234.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 410,714 shares of company stock valued at $2,598,723. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of SoundHound AI by 1,238.7% during the fourth quarter. Bank of America Corp DE now owns 14,726 shares of the company’s stock valued at $26,000 after acquiring an additional 13,626 shares in the last quarter. Independent Advisor Alliance bought a new stake in SoundHound AI during the fourth quarter worth $28,000. Two Sigma Securities LLC bought a new stake in SoundHound AI during the first quarter worth $28,000. IAM Advisory LLC bought a new stake in SoundHound AI during the fourth quarter worth $29,000. Finally, Hexagon Capital Partners LLC bought a new stake in SoundHound AI during the first quarter worth $29,000. 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.