SoundHound AI, Inc. (NASDAQ:SOUN) Insider James Ming Hom Sells 58,382 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 58,382 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.35, for a total transaction of $1,071,309.70. Following the sale, the insider now directly owns 754,811 shares of the company’s stock, valued at approximately $13,850,781.85. The trade was a 7.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

James Ming Hom also recently made the following trade(s):

• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The shares were sold at an average price of $10.00, for a total value of $538,910.00.
• On Friday, September 20th, James Ming Hom sold 21,024 shares of SoundHound AI stock. The stock was sold at an average price of $4.88, for a total value of $102,597.12.

SoundHound AI Price Performance

SOUN stock opened at $20.84 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company’s fifty day moving average price is $8.39 and its 200-day moving average price is $6.00. SoundHound AI, Inc. has a one year low of $1.62 and a one year high of $24.08. The company has a market capitalization of $7.71 billion, a PE ratio of -57.89 and a beta of 3.03.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $25.10 million for 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 previous year, the company earned ($0.09) EPS. On average, equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On SoundHound AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kings Path Partners LLC purchased a new stake in shares of SoundHound AI during the 2nd quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of SoundHound AI in the second quarter valued at $31,000. NBC Securities Inc. increased its position in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after purchasing an additional 3,818 shares during the last quarter. Amalgamated Bank raised its stake in SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after purchasing an additional 5,099 shares in the last quarter. Finally, Signaturefd LLC lifted its position in SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock valued at $41,000 after purchasing an additional 2,200 shares during the last quarter. 19.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SOUN shares. HC Wainwright boosted their price objective on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research note 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. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Wedbush upped their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.