SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka Sells 3,402 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 3,402 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total value of $34,292.16. Following the transaction, the director now directly owns 138,850 shares of the company’s stock, valued at approximately $1,399,608. The trade was a 2.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

SoundHound AI Stock Up 4.6 %

NASDAQ SOUN traded up $0.45 on Monday, hitting $10.31. 26,353,351 shares of the company were exchanged, compared to its average volume of 38,602,530. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.05 billion, a PE ratio of -28.64 and a beta of 2.62. The stock has a fifty day moving average of $12.19 and a 200-day moving average of $10.44. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The company had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. As a group, analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On SoundHound AI

Several institutional investors have recently modified their holdings of SOUN. Wellington Management Group LLP bought a new stake in SoundHound AI in the fourth quarter worth about $7,789,000. California State Teachers Retirement System raised its holdings in shares of SoundHound AI by 13.6% in the 4th quarter. California State Teachers Retirement System now owns 303,598 shares of the company’s stock worth $6,023,000 after purchasing an additional 36,422 shares during the period. Objective Capital Management LLC lifted its stake in SoundHound AI by 25.0% in the fourth quarter. Objective Capital Management LLC now owns 25,000 shares of the company’s stock valued at $496,000 after purchasing an additional 5,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in SoundHound AI by 171.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company’s stock worth $1,385,000 after buying an additional 44,059 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of SoundHound AI in the fourth quarter valued at $544,000. 19.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOUN has been the subject of several research analyst reports. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. DA Davidson boosted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, March 3rd. Finally, Northland Securities lifted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Hold” and an average price target of $12.86.

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.