BIT Capital GmbH Acquires Shares of 2,154 SoundHound AI, Inc. (NASDAQ:SOUN)

BIT Capital GmbH bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,154 shares of the company’s stock, valued at approximately $43,000.

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

SoundHound AI Stock Down 8.0 %

NASDAQ:SOUN opened at $9.38 on Thursday. SoundHound AI, Inc. has a 52 week low of $3.50 and a 52 week high of $24.98. The stock’s fifty day moving average is $12.00 and its two-hundred day moving average is $10.52. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -26.06 and a beta of 2.62. 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 (NASDAQ:SOUN) last posted its earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The firm had revenue of $34.54 million for the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. Research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In other SoundHound AI news, VP Majid Emami sold 28,392 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80. Following the sale, the vice president now directly owns 669,834 shares in the company, valued at $6,631,356.60. This represents a 4.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Ming Hom sold 28,388 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,041.20. Following the completion of the transaction, the insider now owns 689,652 shares of the company’s stock, valued at approximately $6,827,554.80. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 500,565 shares of company stock valued at $4,999,726. 12.28% of the stock is currently owned by company insiders.

About SoundHound AI

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.