SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) Director Diana Sroka sold 2,800 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total transaction of $27,832.00. Following the completion of the transaction, the director now owns 153,949 shares of the company's stock, valued at approximately $1,530,253.06. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SoundHound AI Price Performance
SOUN traded up $0.33 on Tuesday, reaching $9.82. The company had a trading volume of 48,185,773 shares, compared to its average volume of 39,212,397. SoundHound AI, Inc. has a 1 year low of $3.82 and a 1 year high of $24.98. The stock has a 50-day moving average price of $9.61 and a 200-day moving average price of $11.96.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. SoundHound AI had a negative net margin of 184.34% and a negative return on equity of 68.55%. The firm had revenue of $29.13 million during the quarter, compared to analysts' expectations of $30.38 million. During the same period in the previous year, the company earned ($0.07) earnings per share. SoundHound AI's quarterly revenue was up 151.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on SOUN shares. Piper Sandler started coverage on shares of SoundHound AI in a research note on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 price target for the company. HC Wainwright dropped their price target on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Wedbush dropped their price target on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research report on Monday, February 24th. Finally, DA Davidson decreased their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, SoundHound AI currently has an average rating of "Moderate Buy" and an average target price of $10.50.
View Our Latest Report on SoundHound AI
Institutional Investors Weigh In On SoundHound AI
A number of institutional investors and hedge funds have recently bought and sold shares of SOUN. Blue Trust Inc. lifted its position 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 purchased a new stake in SoundHound AI in the fourth quarter valued at $30,000. AlphaQuest LLC acquired a new position in SoundHound AI in the first quarter valued at $32,000. Golden State Wealth Management LLC increased its stake in SoundHound AI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock valued at $34,000 after purchasing an additional 2,115 shares during the period. Finally, BIT Capital GmbH acquired a new position in SoundHound AI in the fourth quarter valued at $43,000. 19.28% of the stock is owned by hedge funds and other institutional investors.
SoundHound AI Company Profile
(
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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.
Further Reading
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