SoundHound AI (NASDAQ:SOUN) Trading Down 0.8%

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price traded down 0.8% during trading on Monday . The company traded as low as $4.92 and last traded at $4.99. 5,427,573 shares were traded during trading, a decline of 86% from the average session volume of 38,950,270 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reissued an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Friday, August 9th. Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.00 to $7.00 in a report on Friday, August 9th. Northland Securities raised their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.08.

SoundHound AI Trading Down 2.0 %

The stock has a market cap of $1.60 billion, a PE ratio of -12.95 and a beta of 2.77. The stock has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $4.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Sell-side analysts forecast that SoundHound AI, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lawrence Marcus sold 50,000 shares of SoundHound AI stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the transaction, the director now owns 74,038 shares in the company, valued at $371,670.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Lawrence Marcus sold 50,000 shares of SoundHound AI stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the transaction, the director now owns 74,038 shares in the company, valued at $371,670.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keyvan Mohajer sold 116,504 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $3.95, for a total value of $460,190.80. Following the transaction, the chief executive officer now owns 953,333 shares of the company’s stock, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 675,728 shares of company stock worth $3,262,476. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SOUN. Hexagon Capital Partners LLC acquired a new position in shares of SoundHound AI during the first quarter worth $29,000. DecisionPoint Financial LLC acquired a new position in shares of SoundHound AI during the first quarter worth $40,000. Kings Path Partners LLC acquired a new position in shares of SoundHound AI during the second quarter worth $28,000. International Assets Investment Management LLC acquired a new position in shares of SoundHound AI during the second quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of SoundHound AI during the first quarter worth $55,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

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.