Lloyd Advisory Services LLC. Invests $238,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

Lloyd Advisory Services LLC. purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors have also made changes to their positions in SOUN. Creative Planning bought a new stake in SoundHound AI during the third quarter worth about $91,000. Sequoia Financial Advisors LLC increased its holdings in SoundHound AI by 40.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 29,133 shares of the company’s stock valued at $136,000 after buying an additional 8,450 shares during the period. Signaturefd LLC raised its position in shares of SoundHound AI by 19.5% in the 3rd quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of SoundHound AI by 914.6% during the 3rd quarter. International Assets Investment Management LLC now owns 80,152 shares of the company’s stock worth $374,000 after acquiring an additional 72,252 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of SoundHound AI by 2,198.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 88,111 shares of the company’s stock worth $411,000 after acquiring an additional 84,278 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoundHound AI

In related news, VP Majid Emami sold 94,067 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the sale, the vice president now directly owns 735,685 shares in the company, valued at $6,657,949.25. This represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric R. Ball sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the transaction, the director now owns 110,907 shares of the company’s stock, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,752,918 shares of company stock worth $45,176,843. 12.28% of the stock is currently owned by company insiders.

SoundHound AI Stock Performance

SoundHound AI stock opened at $10.31 on Friday. The business has a 50 day moving average of $16.24 and a 200-day moving average of $9.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 1 year low of $3.50 and a 1 year high of $24.98. The company has a market capitalization of $4.05 billion, a P/E ratio of -28.64 and a beta of 2.56.

Analyst Ratings Changes

Several research firms have weighed in on SOUN. Wedbush upped their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Barclays restated a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Northland Securities lifted their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Three 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 an average rating of “Moderate Buy” and a consensus target price of $12.36.

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.