SoundHound AI (NASDAQ:SOUN) Trading Down 1.5%

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) dropped 1.5% on Monday . The stock traded as low as $3.82 and last traded at $3.89. Approximately 3,726,767 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 41,815,938 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SOUN shares. Wedbush reaffirmed an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a research note on Friday, May 10th. Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a research report on Thursday, April 11th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Monday, May 13th. Finally, DA Davidson raised their price objective on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

SoundHound AI Trading Down 1.8 %

The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.28 billion, a PE ratio of -10.24 and a beta of 2.77. The business’s fifty day moving average is $4.64 and its 200-day moving average is $4.10.

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

Insider Transactions at SoundHound AI

In other SoundHound AI news, insider James Ming Hom sold 16,716 shares of SoundHound AI stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $4.04, for a total transaction of $67,532.64. Following the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other SoundHound AI news, insider James Ming Hom sold 16,716 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $67,532.64. Following the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at $1,967,435.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Timothy Stonehocker sold 16,039 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $4.04, for a total value of $64,797.56. Following the transaction, the chief technology officer now owns 867,531 shares in the company, valued at approximately $3,504,825.24. The disclosure for this sale can be found here. Insiders have sold a total of 417,728 shares of company stock worth $1,815,476 in the last three months. 21.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC acquired a new stake in shares of SoundHound AI during the first quarter valued at about $29,000. DecisionPoint Financial LLC acquired a new stake in SoundHound AI during the 1st quarter valued at approximately $40,000. Newbridge Financial Services Group Inc. purchased a new stake in SoundHound AI during the 1st quarter worth approximately $55,000. Wesbanco Bank Inc. purchased a new stake in SoundHound AI during the 1st quarter worth approximately $59,000. Finally, Emerald Advisors LLC acquired a new position in shares of SoundHound AI in the 1st quarter valued at approximately $59,000. Hedge funds and other 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.