Jackson Hole Capital Partners LLC Takes Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Jackson Hole Capital Partners LLC bought a new position in SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,850 shares of the company’s stock, valued at approximately $374,000.

Several other large investors have also made changes to their positions in SOUN. Blue Trust Inc. boosted its stake in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $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 4th quarter valued at about $40,000. Compagnie Lombard Odier SCmA bought a new position in shares of SoundHound AI in the 4th quarter valued at about $40,000. Finally, Farther Finance Advisors LLC raised its position in shares of SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after acquiring an additional 6,716 shares during the period. Institutional investors own 19.28% of the company’s stock.

Analyst Upgrades and Downgrades

SOUN has been the topic of a number of analyst reports. Wedbush increased their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Barclays reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. DA Davidson raised 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. Finally, HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI has an average rating of “Hold” and an average price target of $12.86.

SoundHound AI Price Performance

NASDAQ SOUN opened at $9.74 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a market capitalization of $3.83 billion, a PE ratio of -27.06 and a beta of 2.62. The firm’s 50 day moving average is $14.00 and its 200-day moving average is $10.08.

SoundHound AI (NASDAQ:SOUN) last posted 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 net margin of 163.58% and a negative return on equity of 55.58%. The business had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at SoundHound AI

In other SoundHound AI news, COO Michael Zagorsek sold 277,813 shares of SoundHound AI stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the completion of the transaction, the chief operating officer now directly owns 1,473,322 shares of the company’s stock, valued at $31,308,092.50. The trade was a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Marcus sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the transaction, the director now directly owns 108,117 shares in the company, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,788,257 shares of company stock valued at $31,895,182. 12.28% of the stock is owned by corporate insiders.

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.