SoundHound AI (NASDAQ:SOUN) Trading Up 2.8%

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) rose 2.8% during mid-day trading on Monday . The stock traded as high as $3.72 and last traded at $3.65. Approximately 7,937,286 shares changed hands during trading, a decline of 85% from the average daily volume of 53,061,680 shares. The stock had previously closed at $3.55.

Analyst Upgrades and Downgrades

SOUN has been the subject of several recent research reports. Northland Securities restated a "market perform" rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Cantor Fitzgerald upgraded shares of SoundHound AI from an "underweight" rating to a "neutral" rating and set a $4.90 price target for the company in a research report on Thursday, April 11th. Wedbush upped their price target on shares of SoundHound AI from $5.00 to $9.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. HC Wainwright upped their price target on shares of SoundHound AI from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of SoundHound AI in a report on Tuesday, January 30th. They issued a "buy" rating and a $4.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $6.88.

SoundHound AI Trading Up 6.5 %

The firm has a market cap of $1.17 billion, a PE ratio of -9.69 and a beta of 2.75. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 6.03. The company's 50 day moving average price is $5.37 and its two-hundred day moving average price is $3.15.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The firm had revenue of $17.10 million during the quarter, compared to analyst estimates of $17.75 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business's revenue for the quarter was up 80.0% on a year-over-year basis. As a group, sell-side analysts forecast that SoundHound AI, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric R. Ball sold 50,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the sale, the director now owns 530,250 shares of the company's stock, valued at approximately $2,651,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Keyvan Mohajer sold 107,927 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the sale, the chief executive officer now owns 1,218,712 shares of the company's stock, valued at $4,509,234.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric R. Ball sold 50,000 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 530,250 shares in the company, valued at approximately $2,651,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 405,057 shares of company stock valued at $2,587,804. 21.30% of the stock is owned by corporate insiders.

Institutional Trading of SoundHound AI

A number of large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC purchased a new stake in shares of SoundHound AI during the first quarter worth approximately $29,000. Victory Capital Management Inc. increased its stake in SoundHound AI by 45.0% in the third quarter. Victory Capital Management Inc. now owns 21,658 shares of the company's stock valued at $44,000 after purchasing an additional 6,717 shares during the last quarter. Prosperity Wealth Management Inc. increased its stake in SoundHound AI by 18.5% in the fourth quarter. Prosperity Wealth Management Inc. now owns 50,600 shares of the company's stock valued at $107,000 after purchasing an additional 7,900 shares during the last quarter. Ballew Advisors Inc purchased a new position in SoundHound AI in the first quarter valued at approximately $59,000. Finally, SG Americas Securities LLC increased its stake in SoundHound AI by 40.2% in the fourth quarter. SG Americas Securities LLC now owns 38,243 shares of the company's stock valued at $81,000 after purchasing an additional 10,957 shares during the last quarter. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

About SoundHound AI

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.