Aristides Capital LLC Sells 55,301 Shares of SoundHound AI, Inc. (NASDAQ:SOUN)

Aristides Capital LLC lowered its position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) by 70.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,600 shares of the company’s stock after selling 55,301 shares during the period. Aristides Capital LLC’s holdings in SoundHound AI were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after buying an additional 830 shares during the period. Sound Income Strategies LLC increased its position in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in SoundHound AI in the 4th quarter worth about $40,000. Compagnie Lombard Odier SCmA bought a new stake in SoundHound AI in the 4th quarter valued at about $40,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of SoundHound AI during the 4th quarter worth approximately $42,000. 19.28% of the stock is owned by institutional investors and hedge funds.

SoundHound AI Stock Down 11.8 %

Shares of NASDAQ SOUN opened at $7.32 on Friday. The stock has a 50-day moving average price of $11.03 and a two-hundred day moving average price of $10.69. SoundHound AI, Inc. has a 12 month low of $3.50 and a 12 month high of $24.98. 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 $2.92 billion, a price-to-earnings ratio of -20.33 and a beta of 2.73.

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

Insider Activity at SoundHound AI

In other news, CEO Keyvan Mohajer sold 138,895 shares of SoundHound AI stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.08, for a total transaction of $1,400,061.60. Following the sale, the chief executive officer now directly owns 1,764,166 shares of the company’s stock, valued at approximately $17,782,793.28. This trade represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Stonehocker sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $10.08, for a total value of $33,596.64. Following the completion of the transaction, the chief technology officer now directly owns 765,534 shares of the company’s stock, valued at $7,716,582.72. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 500,565 shares of company stock valued at $4,999,726 in the last 90 days. 12.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research report on Monday, March 3rd. Wedbush increased their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Northland Securities boosted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. DA Davidson upped their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.86.

SoundHound AI 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.