SoundHound AI, Inc. (NASDAQ:SOUN) Director Eric R. Ball Sells 30,000 Shares of Stock

SoundHound AI, Inc. (NASDAQ:SOUN) Director Eric R. Ball sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the transaction, the director now owns 110,907 shares of the company’s stock, valued at $890,583.21. This represents a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $8.03 on Tuesday. SoundHound AI, Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $10.25. The firm has a market capitalization of $2.97 billion, a P/E ratio of -22.31 and a beta of 2.71. The stock’s fifty day moving average is $5.57 and its two-hundred day moving average is $5.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. SoundHound AI’s quarterly revenue was up 88.7% on a year-over-year basis. On average, research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on SOUN shares. Wedbush reissued an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. Northland Securities increased their target price on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright increased 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. Finally, Barclays reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.64.

Institutional Trading of SoundHound AI

Several institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in SoundHound AI by 11.0% during the third quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock worth $89,000 after acquiring an additional 1,887 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of SoundHound AI by 13.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 17,150 shares of the company’s stock worth $80,000 after purchasing an additional 1,975 shares during the period. Genesee Capital Advisors LLC increased its position in shares of SoundHound AI by 11.4% during the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after purchasing an additional 2,000 shares during the last quarter. Signaturefd LLC raised its holdings in SoundHound AI by 19.5% in the 3rd quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in SoundHound AI by 24.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock valued at $46,000 after buying an additional 2,320 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

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.