SoundHound AI (NASDAQ:SOUN) Trading Up 2.8%

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) were up 2.8% during trading on Monday . The stock traded as high as $3.72 and last traded at $3.65. 7,937,286 shares changed hands during trading, a decline of 85% from the average daily volume of 53,061,680 shares. The stock had previously closed at $3.55.

Wall Street Analyst Weigh In

SOUN has been the subject of several research analyst reports. HC Wainwright upped their price target on shares of SoundHound AI from $5.00 to $7.00 and gave the company a “buy” rating in a report on Monday, March 4th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price for the company in a report on Thursday, April 11th. Wedbush boosted their price target 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 upped their price objective on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Northland Securities reissued a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, SoundHound AI presently has an average rating of “Moderate Buy” and a consensus target price of $6.88.

SoundHound AI Stock Up 10.3 %

The firm’s 50 day simple moving average is $5.43 and its 200-day simple moving average is $3.18. 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 stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.69 and a beta of 2.75.

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

Insiders Place Their Bets

In other news, CEO Keyvan Mohajer sold 31,665 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $6.08, for a total value of $192,523.20. Following the completion of the sale, the chief executive officer now owns 1,137,831 shares of the company’s stock, valued at approximately $6,918,012.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other SoundHound AI news, CTO Timothy Stonehocker sold 5,276 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $7.70, for a total value of $40,625.20. Following the sale, the chief technology officer now owns 982,584 shares in the company, valued at $7,565,896.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keyvan Mohajer sold 31,665 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $6.08, for a total value of $192,523.20. Following the completion of the sale, the chief executive officer now directly owns 1,137,831 shares of the company’s stock, valued at $6,918,012.48. The disclosure for this sale can be found here. Insiders have sold 405,057 shares of company stock valued at $2,587,804 in the last 90 days. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoundHound AI

A number of large investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance bought a new position in SoundHound AI during the fourth quarter worth $28,000. IAM Advisory LLC bought a new position in SoundHound AI in the 4th quarter valued at about $29,000. Hexagon Capital Partners LLC bought a new position in shares of SoundHound AI during the first quarter worth approximately $29,000. HighPoint Advisor Group LLC acquired a new stake in SoundHound AI during the 4th quarter worth approximately $37,000. Finally, Great Valley Advisor Group Inc. bought a new stake in SoundHound AI in the 4th quarter valued at $42,000. Institutional investors own 19.28% of the company’s stock.

About SoundHound AI

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.