SoundHound AI (NASDAQ:SOUN) Shares Up 1%

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price shot up 1% during trading on Thursday . The company traded as high as $4.17 and last traded at $4.05. 10,853,761 shares were traded during trading, a decline of 79% from the average session volume of 52,409,180 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SOUN. HC Wainwright raised their target price on shares of SoundHound AI from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. LADENBURG THALM/SH SH began coverage on shares of SoundHound AI in a research note on Tuesday, January 30th. They set a “buy” rating and a $4.00 price objective on the stock. Wedbush increased their price objective on shares of SoundHound AI from $5.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a research note on Thursday, April 11th. Finally, DA Davidson increased their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SoundHound AI currently has an average rating of “Moderate Buy” and an average target price of $6.88.

SoundHound AI Trading Up 5.8 %

The stock’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $3.21. The firm has a market cap of $1.36 billion, a PE ratio of -11.28 and a beta of 2.75. The company has a debt-to-equity ratio of 6.03, a current ratio of 4.69 and a quick ratio of 4.69.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (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 during the quarter, compared to analysts’ expectations of $17.75 million. During the same period in the prior year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 80.0% on a year-over-year basis. On average, sell-side analysts forecast that SoundHound AI, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 of the company’s stock, valued at $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 of the company’s stock, valued at $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Majid Emami sold 17,041 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $8.37, for a total value of $142,633.17. Following the transaction, the vice president now directly owns 467,492 shares of the company’s stock, valued at $3,912,908.04. The disclosure for this sale can be found here. Insiders have sold 405,057 shares of company stock worth $2,587,804 over the last quarter. 21.30% of the stock is currently owned by insiders.

Institutional Trading of SoundHound AI

Large investors have recently made changes to their positions in the company. Independent Advisor Alliance purchased a new stake in shares of SoundHound AI during the fourth quarter worth approximately $28,000. IAM Advisory LLC purchased a new stake in shares of SoundHound AI during the fourth quarter worth approximately $29,000. Hexagon Capital Partners LLC purchased a new stake in shares of SoundHound AI during the first quarter worth approximately $29,000. HighPoint Advisor Group LLC purchased a new stake in shares of SoundHound AI during the fourth quarter worth approximately $37,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in SoundHound AI in the 4th quarter valued at $42,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

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.