Diana Sroka Sells 3,402 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 3,402 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $34,292.16. Following the completion of the transaction, the director now directly owns 138,850 shares of the company’s stock, valued at approximately $1,399,608. This trade represents a 2.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SoundHound AI Trading Up 4.6 %

SoundHound AI stock traded up $0.45 during trading hours on Monday, reaching $10.31. The stock had a trading volume of 26,353,351 shares, compared to its average volume of 38,602,530. The stock has a market cap of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. The company has a fifty day simple moving average of $12.19 and a 200-day simple moving average of $10.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $34.54 million for the quarter, compared to analysts’ expectations of $33.70 million. Analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOUN has been the subject of several recent research reports. DA Davidson lifted their price target on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Northland Securities raised 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the period. Orion Capital Management LLC purchased a new stake in shares of SoundHound AI in the 4th quarter worth about $30,000. Future Financial Wealth Managment LLC purchased a new position in SoundHound AI during the 4th quarter valued at about $40,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in SoundHound AI during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

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.