KG&L Capital Management LLC Makes New $442,000 Investment in SoundHound AI, Inc. $SOUN

Key Points

• KG&L Capital Management LLC has made a new investment of $442,000 in SoundHound AI, purchasing 41,201 shares during the second quarter, highlighting growing interest from institutional investors.
• Analysts have set new target prices for SoundHound AI, with ratings ranging from "Strong Buy" to "Sell", and a consensus average price target of $14.36.
• SoundHound AI reported a significant increase in revenue of 216.3% year-over-year for its latest quarter, despite missing EPS estimates with a net loss of ($0.19).

KG&L Capital Management LLC purchased a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,201 shares of the company's stock, valued at approximately $442,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SOUN. Mackenzie Financial Corp increased its stake in shares of SoundHound AI by 14.5% during the fourth quarter. Mackenzie Financial Corp now owns 20,831 shares of the company's stock worth $413,000 after buying an additional 2,643 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of SoundHound AI by 171.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company's stock worth $1,385,000 after buying an additional 44,059 shares during the period. California State Teachers Retirement System increased its stake in shares of SoundHound AI by 13.6% during the fourth quarter. California State Teachers Retirement System now owns 303,598 shares of the company's stock worth $6,023,000 after buying an additional 36,422 shares during the period. Wellington Management Group LLP purchased a new stake in shares of SoundHound AI during the fourth quarter worth approximately $7,789,000. Finally, GAMMA Investing LLC increased its stake in shares of SoundHound AI by 1,477.7% during the first quarter. GAMMA Investing LLC now owns 11,912 shares of the company's stock worth $97,000 after buying an additional 11,157 shares during the period. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush restated an "outperform" rating and set a $16.00 target price on shares of SoundHound AI in a research note on Thursday, September 11th. LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $16.00 in a research note on Monday, August 11th. Wall Street Zen lowered shares of SoundHound AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Oppenheimer assumed coverage on shares of SoundHound AI in a research note on Thursday, September 11th. They set a "market perform" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of SoundHound AI in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.36.

SoundHound AI Trading Down 2.5%

SOUN stock opened at $15.94 on Friday. The company has a market capitalization of $6.50 billion, a P/E ratio of -25.30 and a beta of 2.58. SoundHound AI, Inc. has a twelve month low of $4.45 and a twelve month high of $24.98. The business has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $11.06.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.13). The company had revenue of $42.68 million for the quarter, compared to analysts' expectations of $32.88 million. SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.SoundHound AI's revenue for the quarter was up 216.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. Research analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Majid Emami sold 42,119 shares of SoundHound AI stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $673,904.00. Following the transaction, the vice president directly owned 685,538 shares of the company's stock, valued at $10,968,608. The trade was a 5.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Ming Hom sold 42,119 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $673,904.00. Following the transaction, the insider directly owned 845,441 shares in the company, valued at $13,527,056. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 495,196 shares of company stock valued at $8,068,135. Company insiders own 9.17% of the company's stock.

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.

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