SoundHound AI (NASDAQ:SOUN) Trading 1% Higher

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price traded up 1% on Thursday . The stock traded as high as $4.17 and last traded at $4.05. 10,853,761 shares traded hands during trading, a decline of 79% from the average session volume of 52,409,180 shares. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. LADENBURG THALM/SH SH assumed coverage on shares of SoundHound AI in a report on Tuesday, January 30th. They set a “buy” rating and a $4.00 price target on the stock. Wedbush increased their price objective on SoundHound AI from $5.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, March 1st. DA Davidson lifted their target price on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.88.

SoundHound AI Stock Up 3.7 %

The stock’s fifty day moving average is $5.47 and its two-hundred day moving average is $3.19. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. The company has a market capitalization of $1.29 billion, a PE ratio of -10.38 and a beta of 2.75.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The company had revenue of $17.10 million during the quarter, compared to the consensus estimate of $17.75 million. During the same quarter last year, the company posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 80.0% on a year-over-year basis. As a group, analysts predict that SoundHound AI, Inc. will post -0.3 EPS for the current year.

Insider Activity at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the transaction, the chief executive officer now directly owns 1,218,712 shares in the company, valued at approximately $4,509,234.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of SoundHound AI stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the sale, the chief executive officer now owns 1,218,712 shares of the company’s stock, valued at approximately $4,509,234.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Majid Emami sold 17,041 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the transaction, the vice president now owns 467,492 shares of the company’s stock, valued at $3,912,908.04. The disclosure for this sale can be found here. Insiders sold a total of 405,057 shares of company stock worth $2,587,804 over the last quarter. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of SoundHound AI

Several hedge funds have recently modified their holdings of SOUN. Independent Advisor Alliance purchased a new position in shares of SoundHound AI in the 4th quarter worth $28,000. IAM Advisory LLC bought a new stake in SoundHound AI during the 4th quarter valued at about $29,000. Hexagon Capital Partners LLC bought a new position in SoundHound AI in the 1st quarter worth about $29,000. HighPoint Advisor Group LLC bought a new stake in shares of SoundHound AI during the fourth quarter valued at approximately $37,000. Finally, Great Valley Advisor Group Inc. bought a new position in SoundHound AI in the fourth quarter worth approximately $42,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

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.