SoundHound AI Target of Unusually High Options Trading (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) was the target of some unusual options trading activity on Monday. Investors bought 153,642 call options on the company. This represents an increase of approximately 30% compared to the average volume of 117,971 call options.

Insider Activity at SoundHound AI

In other SoundHound AI news, insider James Ming Hom sold 28,388 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,041.20. Following the completion of the sale, the insider now owns 689,652 shares of the company's stock, valued at $6,827,554.80. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Stonehocker sold 44,157 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $12.00, for a total transaction of $529,884.00. Following the completion of the sale, the chief technology officer now directly owns 723,009 shares of the company's stock, valued at $8,676,108. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,537 shares of company stock worth $5,567,760. Insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On SoundHound AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commons Capital LLC lifted its stake in SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company's stock valued at $543,000 after purchasing an additional 723 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in SoundHound AI by 33.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock valued at $60,000 after purchasing an additional 750 shares during the last quarter. Keynote Financial Services LLC lifted its stake in SoundHound AI by 4.7% in the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock valued at $329,000 after purchasing an additional 752 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of SoundHound AI by 16.4% during the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company's stock worth $131,000 after purchasing an additional 929 shares during the last quarter. Institutional investors own 19.28% of the company's stock.

SoundHound AI Price Performance

Shares of SoundHound AI stock traded up $0.18 on Friday, reaching $11.19. 26,511,644 shares of the stock were exchanged, compared to its average volume of 37,822,039. The firm's 50 day moving average is $9.08 and its 200-day moving average is $11.49. SoundHound AI has a one year low of $3.82 and a one year high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The firm has a market cap of $4.46 billion, a PE ratio of -31.08 and a beta of 2.71.

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

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of recent research reports. Wedbush cut their price objective on shares of SoundHound AI from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, May 9th. DA Davidson cut their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, April 14th. HC Wainwright cut their price objective on shares of SoundHound AI from $26.00 to $18.00 and set a "buy" rating for the company in a report on Monday. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.29.

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.