James Ming Hom Sells 21,820 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 21,820 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $2.07, for a total value of $45,167.40. Following the sale, the insider now directly owns 574,372 shares in the company, valued at approximately $1,188,950.04. The sale was disclosed in a document filed with the SEC, which is available at this link.

James Ming Hom also recently made the following trade(s):

• On Wednesday, June 21st, James Ming Hom sold 11,666 shares of SoundHound AI stock. The shares were sold at an average price of $3.66, for a total transaction of $42,697.56.

SoundHound AI Price Performance

Shares of SOUN traded down $0.12 during mid-day trading on Tuesday, hitting $2.13. 7,052,566 shares of the company were exchanged, compared to its average volume of 14,704,644. The company has a debt-to-equity ratio of 4.80, a quick ratio of 4.70 and a current ratio of 4.70. SoundHound AI, Inc. has a 1-year low of $0.93 and a 1-year high of $5.11. The stock has a market cap of $512.71 million, a price-to-earnings ratio of -4.02 and a beta of 0.67. The company has a 50 day moving average of $2.52 and a 200-day moving average of $2.75.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Tuesday, August 8th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $8.75 million during the quarter, compared to analyst estimates of $8.07 million. During the same quarter last year, the company earned ($0.19) earnings per share. SoundHound AI’s quarterly revenue was up 42.2% on a year-over-year basis. Analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SOUN. Bank of America Corp DE increased its stake in SoundHound AI by 1,238.7% during the fourth quarter. Bank of America Corp DE now owns 14,726 shares of the company’s stock worth $26,000 after acquiring an additional 13,626 shares during the last quarter. Two Sigma Securities LLC acquired a new stake in shares of SoundHound AI in the first quarter valued at $28,000. CTC Capital Management LLC purchased a new stake in shares of SoundHound AI during the 1st quarter worth $36,000. Victory Capital Management Inc. acquired a new position in shares of SoundHound AI in the 1st quarter valued at $36,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in SoundHound AI during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 26.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HC Wainwright started coverage on SoundHound AI in a research note on Tuesday, September 5th. They set a “buy” rating and a $5.00 price target on the stock. Cantor Fitzgerald cut their price objective on shares of SoundHound AI from $6.20 to $4.20 and set an “overweight” rating for the company in a report on Wednesday, August 9th.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.