SoundHound AI (NASDAQ:SOUN) Shares Down 4.1%

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) traded down 4.1% during trading on Thursday . The company traded as low as $4.86 and last traded at $4.86. 14,644,568 shares changed hands during trading, a decline of 70% from the average session volume of 48,341,246 shares. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

SOUN has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Monday, May 13th. Cantor Fitzgerald raised SoundHound AI from an "underweight" rating to a "neutral" rating and set a $4.90 price target on the stock in a research report on Thursday, April 11th. DA Davidson lifted their price target on SoundHound AI from $7.50 to $9.50 and gave the stock a "buy" rating in a research report on Friday, March 15th. LADENBURG THALM/SH SH initiated coverage on SoundHound AI in a research report on Tuesday, January 30th. They issued a "buy" rating and a $4.00 price target on the stock. Finally, Wedbush reissued an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.88.

SoundHound AI Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The firm has a 50-day moving average of $5.19 and a 200 day moving average of $3.64. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -13.13 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The business's revenue for the quarter was up 72.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. As a group, sell-side analysts forecast that SoundHound AI, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Transactions at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 50,000 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the transaction, the director now owns 530,250 shares in the company, valued at approximately $2,651,250. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Keyvan Mohajer sold 48,837 shares of the firm's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $8.37, for a total transaction of $408,765.69. Following the sale, the chief executive officer now owns 1,169,496 shares of the company's stock, valued at approximately $9,788,681.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric R. Ball sold 50,000 shares of the firm'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 sale, 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. Over the last quarter, insiders have sold 290,515 shares of company stock worth $2,164,925. Company insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hexagon Capital Partners LLC bought a new stake in SoundHound AI in the 1st quarter valued at about $29,000. DecisionPoint Financial LLC acquired a new position in SoundHound AI during the 1st quarter valued at about $40,000. Newbridge Financial Services Group Inc. acquired a new position in SoundHound AI during the 1st quarter valued at about $55,000. Wesbanco Bank Inc. acquired a new position in SoundHound AI during the 1st quarter valued at about $59,000. Finally, Emerald Advisors LLC acquired a new position in SoundHound AI during the 1st quarter valued at about $59,000. 19.28% of the stock is owned by institutional investors.

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.