Eric R. Ball Sells 30,000 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Eric R. Ball sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the sale, the director now owns 110,907 shares of the company’s stock, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $7.61 on Wednesday. The firm’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $5.05. The stock has a market cap of $2.81 billion, a PE ratio of -21.14 and a beta of 2.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $10.25.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. SoundHound AI’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright upped their price objective on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. DA Davidson reissued a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. Wedbush restated an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in SoundHound AI by 16.1% during the 1st quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company’s stock worth $94,655,000 after buying an additional 2,226,471 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of SoundHound AI by 124.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 73,112 shares of the company’s stock worth $431,000 after purchasing an additional 40,495 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in SoundHound AI in the first quarter valued at $162,000. Janus Henderson Group PLC raised its position in SoundHound AI by 563.0% during the 1st quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock worth $2,843,000 after purchasing an additional 409,917 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. acquired a new position in SoundHound AI during the 1st quarter worth about $73,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.