SoundHound AI (NASDAQ:SOUN) Stock Price Down 1.7%

SoundHound AI, Inc. (NASDAQ:SOUN) traded down 1.7% during mid-day trading on Tuesday . The company traded as low as $4.92 and last traded at $5.12. 14,494,806 shares changed hands during trading, a decline of 71% from the average session volume of 50,049,016 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

Several research firms recently issued reports on SOUN. Northland Securities reissued a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a research note on Thursday, April 11th. DA Davidson increased their price objective on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, March 15th. Wedbush boosted their target price on SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, LADENBURG THALM/SH SH started coverage on shares of SoundHound AI in a research note on Tuesday, January 30th. They set a “buy” rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.88.

SoundHound AI Stock Down 5.2 %

The company’s 50 day moving average price is $5.53 and its two-hundred day moving average price is $3.35. The firm has a market cap of $1.53 billion, a PE ratio of -12.41 and a beta of 2.87. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $17.10 million for the quarter, compared to analysts’ expectations of $17.75 million. SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The company’s quarterly revenue was up 80.0% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. On average, equities research analysts expect that SoundHound AI, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $3.70, for a total value of $399,329.90. Following the transaction, the chief executive officer now owns 1,218,712 shares of the company’s stock, valued at approximately $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Keyvan Mohajer sold 107,927 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total transaction of $399,329.90. Following the transaction, the chief executive officer now directly owns 1,218,712 shares of the company’s stock, valued at $4,509,234.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Majid Emami sold 17,041 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the transaction, the vice president now owns 467,492 shares in the company, valued at $3,912,908.04. The disclosure for this sale can be found here. Insiders have sold 405,057 shares of company stock valued at $2,587,804 in the last ninety days. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundHound AI

Institutional investors have recently made changes to their positions in the stock. Independent Advisor Alliance purchased a new position in SoundHound AI during the 4th quarter valued at about $28,000. IAM Advisory LLC purchased a new stake in SoundHound AI during the 4th quarter worth approximately $29,000. Hexagon Capital Partners LLC acquired a new stake in SoundHound AI during the 1st quarter worth approximately $29,000. HighPoint Advisor Group LLC purchased a new position in SoundHound AI in the fourth quarter valued at $37,000. Finally, DecisionPoint Financial LLC purchased a new stake in SoundHound AI during the 1st quarter worth about $40,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

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.