Investors Buy Large Volume of SoundHound AI Call Options (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors purchased 13,949 call options on the stock. This is an increase of 322% compared to the average daily volume of 3,304 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of SoundHound AI in a report on Monday, December 11th. LADENBURG THALM/SH SH initiated coverage on SoundHound AI in a research note on Tuesday, January 30th. They issued a "buy" rating and a $4.00 target price for the company. Finally, Cantor Fitzgerald dropped their target price on SoundHound AI from $4.20 to $3.60 and set an "overweight" rating for the company in a research note on Friday, November 10th.

SoundHound AI Trading Up 12.4 %

SoundHound AI stock traded up $0.24 during trading on Friday, hitting $2.19. The company's stock had a trading volume of 14,996,159 shares, compared to its average volume of 7,942,452. The stock has a market capitalization of $541.00 million, a price-to-earnings ratio of -4.55 and a beta of 1.09. The stock's fifty day moving average is $1.98 and its 200 day moving average is $2.05. SoundHound AI has a 1-year low of $1.49 and a 1-year high of $5.11. The company has a debt-to-equity ratio of 7.22, a quick ratio of 5.11 and a current ratio of 5.11.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings results on Friday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.09). The firm had revenue of $13.30 million for the quarter, compared to analysts' expectations of $12.78 million. During the same period last year, the firm posted ($0.15) EPS. SoundHound AI's revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts predict that SoundHound AI will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, CEO Keyvan Mohajer sold 70,098 shares of SoundHound AI stock in a transaction on Friday, December 15th. The stock was sold at an average price of $2.20, for a total transaction of $154,215.60. Following the completion of the transaction, the chief executive officer now directly owns 1,326,639 shares of the company's stock, valued at $2,918,605.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Michael Zagorsek sold 24,609 shares of the business's stock in a transaction on Friday, December 15th. The stock was sold at an average price of $2.20, for a total value of $54,139.80. Following the completion of the transaction, the chief operating officer now directly owns 795,495 shares of the company's stock, valued at $1,750,089. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keyvan Mohajer sold 70,098 shares of the business's stock in a transaction on Friday, December 15th. The stock was sold at an average price of $2.20, for a total value of $154,215.60. Following the completion of the transaction, the chief executive officer now directly owns 1,326,639 shares of the company's stock, valued at $2,918,605.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,504 shares of company stock valued at $412,708. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC grew its position in SoundHound AI by 23.4% during the second quarter. Avestar Capital LLC now owns 29,000 shares of the company's stock valued at $132,000 after acquiring an additional 5,500 shares during the period. Victory Capital Management Inc. grew its position in SoundHound AI by 45.0% during the third quarter. Victory Capital Management Inc. now owns 21,658 shares of the company's stock valued at $44,000 after acquiring an additional 6,717 shares during the period. Rhumbline Advisers grew its position in SoundHound AI by 4.4% during the third quarter. Rhumbline Advisers now owns 168,025 shares of the company's stock valued at $338,000 after acquiring an additional 7,069 shares during the period. Royal Bank of Canada grew its position in SoundHound AI by 520.7% during the second quarter. Royal Bank of Canada now owns 8,690 shares of the company's stock valued at $40,000 after acquiring an additional 7,290 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in SoundHound AI by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 582,633 shares of the company's stock valued at $1,608,000 after acquiring an additional 7,414 shares during the period. Hedge funds and other institutional investors own 26.96% of the company's stock.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.

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