Eric R. Ball Sells 30,000 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Eric R. Ball sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the transaction, the director now owns 110,907 shares of the company’s stock, valued at $890,583.21. The trade was a 21.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SoundHound AI Stock Down 5.2 %

SOUN stock opened at $7.61 on Wednesday. The business’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $5.05. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $10.25. The firm has a market capitalization of $2.81 billion, a PE ratio of -21.14 and a beta of 2.71. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s revenue was up 88.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its holdings in SoundHound AI by 11.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after purchasing an additional 1,887 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of SoundHound AI by 13.0% during the third quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock worth $80,000 after buying an additional 1,975 shares in the last quarter. Genesee Capital Advisors LLC boosted its position in shares of SoundHound AI by 11.4% in the second quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock valued at $77,000 after acquiring an additional 2,000 shares during the period. Signaturefd LLC grew its stake in shares of SoundHound AI by 19.5% in the third quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock valued at $57,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after acquiring an additional 2,320 shares during the period. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

SOUN has been the topic of several analyst reports. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. DA Davidson restated a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. Finally, HC Wainwright boosted their target price on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

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.