SoundHound AI, Inc. (NASDAQ:SOUN) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 63.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,423 shares of the company's stock after selling 30,155 shares during the period. SeaCrest Wealth Management LLC's holdings in SoundHound AI were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of SoundHound AI in the fourth quarter valued at about $411,000. Choreo LLC boosted its position in SoundHound AI by 7.6% in the fourth quarter. Choreo LLC now owns 14,424 shares of the company's stock valued at $309,000 after buying an additional 1,015 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in SoundHound AI in the 4th quarter worth approximately $207,000. Golden State Wealth Management LLC purchased a new position in SoundHound AI during the 4th quarter worth approximately $42,000. Finally, Stephens Inc. AR acquired a new stake in shares of SoundHound AI in the fourth quarter worth $1,169,000. Hedge funds and other institutional investors own 19.28% of the company's stock.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN traded down $0.23 during midday trading on Tuesday, reaching $9.79. 24,040,321 shares of the company's stock traded hands, compared to its average volume of 38,652,764. The company has a fifty day simple moving average of $9.30 and a two-hundred day simple moving average of $11.97. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. The company has a market cap of $3.93 billion, a P/E ratio of -27.19 and a beta of 2.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler started coverage on shares of SoundHound AI in a research report on Tuesday, May 27th. They set an "overweight" rating and a $12.00 target price for the company. Wedbush reduced their price objective on SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. HC Wainwright lowered their target price on SoundHound AI from $26.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Finally, DA Davidson dropped their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

Insider Transactions at SoundHound AI

In other SoundHound AI news, CTO Timothy Stonehocker sold 27,714 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60. Following the transaction, the chief technology officer now owns 768,867 shares of the company's stock, valued at approximately $7,611,783.30. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diana Sroka sold 3,402 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the completion of the sale, the director now directly owns 138,850 shares of the company's stock, valued at $1,399,608. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 548,537 shares of company stock valued at $5,567,760 over the last ninety days. Insiders own 9.17% of the company's stock.

SoundHound AI Company 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.