SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka Sells 2,800 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 2,800 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total value of $27,832.00. Following the sale, the director now owns 153,949 shares in the company, valued at $1,530,253.06. The trade was a 1.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SoundHound AI Trading Up 3.5%

SOUN opened at $9.82 on Wednesday. The stock’s fifty day simple moving average is $9.64 and its 200 day simple moving average is $11.94. SoundHound AI, Inc. has a 1-year low of $3.82 and a 1-year high of $24.98. The stock has a market cap of $3.95 billion, a PE ratio of -17.85 and a beta of 2.64.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $29.13 million during the quarter, compared to analysts’ expectations of $30.38 million. SoundHound AI had a negative net margin of 184.34% and a negative return on equity of 68.55%. SoundHound AI’s quarterly revenue was up 151.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. Equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on SOUN shares. Piper Sandler began coverage on SoundHound AI in a research note on Tuesday, May 27th. They issued an “overweight” rating and a $12.00 price target for the company. Wedbush decreased their target price on shares of SoundHound AI from $22.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. HC Wainwright dropped their price target on shares of SoundHound AI from $26.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, DA Davidson decreased their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Institutional Trading of SoundHound AI

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 worth $25,000 after purchasing an additional 830 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth approximately $30,000. AlphaQuest LLC bought a new position in shares of SoundHound AI during the first quarter worth approximately $32,000. Golden State Wealth Management LLC raised its position in shares of SoundHound AI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company’s stock valued at $34,000 after buying an additional 2,115 shares in the last quarter. Finally, BIT Capital GmbH bought a new stake in shares of SoundHound AI in the fourth quarter valued at approximately $43,000. 19.28% of the stock is currently owned by 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.