SoundHound AI (NASDAQ:SOUN) Trading Down 0.2%

SoundHound AI, Inc. (NASDAQ:SOUN) shares were down 0.2% during trading on Tuesday . The company traded as low as $5.38 and last traded at $5.51. Approximately 16,965,324 shares were traded during trading, a decline of 66% from the average daily volume of 49,944,773 shares. The stock had previously closed at $5.52.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SOUN shares. LADENBURG THALM/SH SH started coverage on shares of SoundHound AI in a report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price target for the company. DA Davidson boosted their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, March 15th. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a research report on Thursday, April 11th. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.88.

SoundHound AI Stock Down 3.9 %

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -13.45 and a beta of 2.87. The company has a current ratio of 8.84, a quick ratio of 4.69 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average price is $5.39 and its two-hundred day moving average price is $3.51.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business had revenue of $11.59 million during the quarter, compared to analysts’ expectations of $10.10 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. SoundHound AI’s revenue was up 72.9% compared to the same quarter last year. Sell-side analysts anticipate that SoundHound AI, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoundHound AI news, CTO Timothy Stonehocker sold 5,276 shares of SoundHound AI stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.70, for a total value of $40,625.20. Following the transaction, the chief technology officer now owns 982,584 shares in the company, valued at $7,565,896.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SoundHound AI news, CTO Timothy Stonehocker sold 5,276 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $7.70, for a total transaction of $40,625.20. Following the sale, the chief technology officer now owns 982,584 shares of the company’s stock, valued at $7,565,896.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Majid Emami sold 17,041 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $8.37, for a total value of $142,633.17. Following the completion of the transaction, the vice president now directly owns 467,492 shares of the company’s stock, valued at approximately $3,912,908.04. The disclosure for this sale can be found here. Insiders sold a total of 297,130 shares of company stock worth $2,188,475 in the last ninety days. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in SoundHound AI by 563.0% in the first quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock valued at $2,843,000 after buying an additional 409,917 shares during the period. Bayesian Capital Management LP acquired a new position in shares of SoundHound AI in the 1st quarter valued at about $162,000. Gendell Jeffrey L acquired a new position in shares of SoundHound AI in the 1st quarter valued at about $589,000. Aristides Capital LLC bought a new stake in shares of SoundHound AI during the 1st quarter valued at about $1,765,000. Finally, Price T Rowe Associates Inc. MD grew its stake in SoundHound AI by 124.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 73,112 shares of the company’s stock worth $431,000 after purchasing an additional 40,495 shares during the period. 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.