Ballew Advisors Inc Buys Shares of 10,000 SoundHound AI, Inc. (NASDAQ:SOUN)

Ballew Advisors Inc bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the first quarter, HoldingsChannel.com reports. The fund bought 10,000 shares of the company’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in SoundHound AI by 12.0% in the third quarter. Swiss National Bank now owns 351,500 shares of the company’s stock valued at $707,000 after buying an additional 37,700 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in SoundHound AI in the third quarter valued at $191,000. Quadrature Capital Ltd bought a new stake in SoundHound AI in the third quarter valued at $457,000. Vanguard Group Inc. lifted its stake in SoundHound AI by 18.6% in the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company’s stock valued at $26,466,000 after buying an additional 2,064,340 shares during the last quarter. Finally, IAM Advisory LLC bought a new stake in shares of SoundHound AI during the fourth quarter valued at about $29,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoundHound AI

In other news, CTO Timothy Stonehocker sold 104,000 shares of SoundHound AI stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $5.00, for a total transaction of $520,000.00. Following the completion of the sale, the chief technology officer now directly owns 883,570 shares in the company, valued at approximately $4,417,850. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.81, for a total value of $240,500.00. Following the completion of the sale, the director now directly owns 208,117 shares in the company, valued at approximately $1,001,042.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Stonehocker sold 104,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $5.00, for a total value of $520,000.00. Following the completion of the sale, the chief technology officer now owns 883,570 shares of the company’s stock, valued at $4,417,850. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

SoundHound AI Trading Down 1.2 %

SOUN traded down $0.05 during trading on Friday, reaching $4.00. The company had a trading volume of 19,933,528 shares, compared to its average volume of 14,325,573. The firm’s 50-day simple moving average is $4.63 and its 200 day simple moving average is $4.01. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -10.53 and a beta of 2.87. SoundHound AI, Inc. has a 12-month low of $1.49 and a 12-month high of $10.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The company had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $10.10 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 72.9% on a year-over-year basis. Equities research analysts anticipate that SoundHound AI, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Monday, May 13th. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a report on Thursday, April 11th. DA Davidson lifted their target price on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. Finally, Northland Securities reissued a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.88.

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.