Harbour Capital Advisors LLC Purchases Shares of 26,450 SoundHound AI, Inc. $SOUN

Key Points

• Harbour Capital Advisors LLC has acquired 26,450 shares of SoundHound AI, valued at approximately $298,000, in the second quarter as per their SEC filing.
• SoundHound AI experienced a 216.3% increase in year-over-year revenue, despite reporting a loss of $0.19 earnings per share, which missed analyst expectations.
• Several analysts have upgraded SoundHound AI's stock rating, with Northland Securities providing an "outperform" rating and a price target of $14.50.

Harbour Capital Advisors LLC bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,450 shares of the company's stock, valued at approximately $298,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kozak & Associates Inc. grew its holdings in shares of SoundHound AI by 6,249.0% in the 2nd quarter. Kozak & Associates Inc. now owns 3,238 shares of the company's stock valued at $35,000 after buying an additional 3,187 shares during the period. AlphaQuest LLC acquired a new position in shares of SoundHound AI in the 1st quarter valued at $32,000. Golden State Wealth Management LLC grew its holdings in shares of SoundHound AI by 100.0% in the 1st 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 during the period. Fourth Dimension Wealth LLC bought a new stake in SoundHound AI in the 4th quarter valued at $88,000. Finally, Sunbelt Securities Inc. lifted its position in SoundHound AI by 153.1% in the 4th quarter. Sunbelt Securities Inc. now owns 4,555 shares of the company's stock valued at $90,000 after acquiring an additional 2,755 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company's stock.

SoundHound AI Price Performance

NASDAQ:SOUN traded up $0.49 during midday trading on Tuesday, reaching $17.80. 94,766,089 shares of the company traded hands, compared to its average volume of 45,319,953. SoundHound AI, Inc. has a twelve month low of $4.45 and a twelve month high of $24.98. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -28.40 and a beta of 2.58. The company has a fifty day moving average price of $13.15 and a 200 day moving average price of $10.84.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business had revenue of $42.68 million for the quarter, compared to the consensus estimate of $32.88 million. During the same period in the previous year, the firm earned ($0.11) EPS. The firm's revenue was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 17th. DA Davidson boosted their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of SoundHound AI from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, LADENBURG THALM/SH SH raised shares of SoundHound AI from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $16.00 in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.36.

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.