SoundHound AI (NASDAQ:SOUN) Trading Up 4.1% – Should You Buy?

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price traded up 4.1% during mid-day trading on Thursday . The company traded as high as $14.59 and last traded at $14.55. 11,040,248 shares traded hands during trading, a decline of 79% from the average session volume of 53,361,348 shares. The stock had previously closed at $13.97.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Northland Securities upped their price target on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. Barclays reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush increased their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.36.

SoundHound AI Trading Up 6.0 %

The company has a market cap of $5.83 billion, a P/E ratio of -41.01 and a beta of 2.56. The business has a fifty day moving average price of $16.66 and a 200-day moving average price of $9.41. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

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

Insider Transactions at SoundHound AI

In related news, Director Lawrence Marcus sold 30,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the sale, the director now owns 178,117 shares of the company’s stock, valued at $1,273,536.55. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric R. Ball sold 50,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the director now directly owns 451,756 shares in the company, valued at approximately $5,421,072. This represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,782,918 shares of company stock worth $45,391,343. Corporate insiders own 12.28% of the company’s stock.

Institutional Trading of SoundHound AI

A number of institutional investors have recently bought and sold shares of the company. Commons Capital LLC boosted its position in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock valued at $543,000 after acquiring an additional 723 shares during the last quarter. ST Germain D J Co. Inc. raised its holdings in shares of SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after acquiring an additional 750 shares during the last quarter. Keynote Financial Services LLC increased its stake in SoundHound AI by 4.7% in the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after buying an additional 752 shares during the last quarter. Blue Trust Inc. increased its stake in SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after buying an additional 830 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in SoundHound AI by 16.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after buying an additional 929 shares during the last quarter. 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.