B. Riley Wealth Advisors Inc. Takes $544,000 Position in SoundHound AI, Inc. (NASDAQ:SOUN)

B. Riley Wealth Advisors Inc. bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,422 shares of the company's stock, valued at approximately $544,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after acquiring an additional 830 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of SoundHound AI during the 4th quarter worth approximately $30,000. Compagnie Lombard Odier SCmA bought a new position in shares of SoundHound AI during the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new position in shares of SoundHound AI during the 4th quarter worth approximately $42,000. Finally, BIT Capital GmbH bought a new position in shares of SoundHound AI during the 4th quarter worth approximately $43,000. 19.28% of the stock is currently owned by institutional investors.

Insider Activity at SoundHound AI

In related news, CTO Timothy Stonehocker sold 27,714 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total value of $274,368.60. Following the completion of the sale, the chief technology officer now directly owns 768,867 shares of the company's stock, valued at approximately $7,611,783.30. This represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Ming Hom sold 51,196 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.25, for a total value of $524,759.00. Following the completion of the sale, the insider now directly owns 638,456 shares of the company's stock, valued at $6,544,174. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 548,537 shares of company stock valued at $5,567,760. 12.28% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. HC Wainwright cut their price target on SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, May 12th. DA Davidson cut their price target on SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a report on Monday, February 24th. Piper Sandler assumed coverage on SoundHound AI in a report on Tuesday, May 27th. They set an "overweight" rating and a $12.00 price target on the stock. Finally, Wedbush cut their price target on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Four 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.com, SoundHound AI currently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

SoundHound AI Stock Down 1.4%

Shares of NASDAQ:SOUN traded down $0.14 during trading on Monday, reaching $9.97. 19,935,996 shares of the stock were exchanged, compared to its average volume of 38,379,600. 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 $3.82 and a 1-year high of $24.98. The stock has a fifty day moving average of $9.16 and a two-hundred day moving average of $11.86. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -27.69 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $29.13 million for the quarter, compared to analyst estimates of $30.38 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. SoundHound AI's revenue for the quarter was up 151.2% on a year-over-year basis. Research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

SoundHound AI 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.