Commons Capital LLC Raises Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Commons Capital LLC grew its stake in SoundHound AI, Inc. (NASDAQ:SOUN) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,349 shares of the company’s stock after purchasing an additional 723 shares during the period. Commons Capital LLC’s holdings in SoundHound AI were worth $543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. boosted its stake in SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after buying an additional 3,818 shares during the period. Amalgamated Bank boosted its stake in shares of SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares during the period. Future Financial Wealth Managment LLC bought a new position in SoundHound AI during the 4th quarter valued at about $40,000. Farther Finance Advisors LLC raised its position in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after purchasing an additional 6,716 shares during the period. Finally, Sei Investments Co. bought a new stake in SoundHound AI in the second quarter worth about $43,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

Insider Activity at SoundHound AI

In other news, Director Lawrence Marcus sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the sale, the director now directly owns 108,117 shares in the company, valued at approximately $2,213,154.99. This trade represents a 15.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total transaction of $851,306.35. Following the transaction, the vice president now owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. This trade represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,782,918 shares of company stock valued at $45,391,343 over the last quarter. 12.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SOUN has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. Wedbush increased their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Northland Securities boosted their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. Finally, Barclays reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.36.

SoundHound AI Trading Up 21.1 %

NASDAQ:SOUN opened at $16.52 on Wednesday. The firm has a 50-day simple moving average of $14.32 and a 200-day simple moving average of $8.33. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.98. The firm has a market cap of $6.11 billion, a P/E ratio of -45.89 and a beta of 2.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

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

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.