SoundHound AI (NASDAQ:SOUN) Shares Gap Down – What’s Next?

SoundHound AI, Inc. (NASDAQ:SOUN) shares gapped down before the market opened on Monday . The stock had previously closed at $15.84, but opened at $14.15. SoundHound AI shares last traded at $14.89, with a volume of 18,067,803 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on SOUN. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Barclays restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Northland Securities increased their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th. Finally, Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

SoundHound AI Price Performance

The company has a 50-day moving average of $15.22 and a 200-day moving average of $8.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.03, for a total transaction of $240,900.00. Following the sale, the director now directly owns 110,907 shares of the company’s stock, valued at $890,583.21. The trade was a 21.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Timothy Stonehocker sold 34,407 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the transaction, the chief technology officer now owns 796,581 shares of the company’s stock, valued at $16,170,594.30. The trade was a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock valued at $45,391,343 in the last 90 days. 12.28% of the stock is currently owned by company insiders.

Institutional Trading of SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC increased its position in shares of SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 1,271 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of SoundHound AI in the fourth quarter valued at $40,000. Golden State Wealth Management LLC acquired a new position in SoundHound AI during the fourth quarter worth $42,000. ST Germain D J Co. Inc. raised its position in SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after acquiring an additional 750 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in SoundHound AI in the fourth quarter valued at $64,000. Institutional investors 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.