Future Financial Wealth Managment LLC Buys Shares of 2,000 SoundHound AI, Inc. (NASDAQ:SOUN)

Future Financial Wealth Managment LLC purchased a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,000 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors have also made changes to their positions in the company. NBC Securities Inc. raised its position in SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after acquiring an additional 3,818 shares in the last quarter. Amalgamated Bank raised its holdings in shares of SoundHound AI by 108.0% during the 2nd 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. Farther Finance Advisors LLC lifted its stake in shares of SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after purchasing an additional 6,716 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of SoundHound AI in the 2nd quarter valued at $43,000. Finally, Newbridge Financial Services Group Inc. increased its position in SoundHound AI by 24.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 11,720 shares of the company’s stock worth $46,000 after buying an additional 2,320 shares during the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Price Performance

Shares of NASDAQ:SOUN traded down $1.13 during midday trading on Monday, reaching $12.96. 39,534,739 shares of the company’s stock were exchanged, compared to its average volume of 68,047,930. 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 50 day simple moving average is $13.29 and its two-hundred day simple moving average is $7.84. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.98. The firm has a market capitalization of $4.79 billion, a PE ratio of -36.00 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping 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 analysts’ expectations of $23.02 million. During the same quarter last year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 88.7% compared to the same quarter last year. Equities research analysts expect that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In other news, Director Eric R. Ball sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the transaction, the director now owns 110,907 shares in the company, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Majid Emami sold 94,067 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the sale, the vice president now owns 735,685 shares in the company, valued at approximately $6,657,949.25. This trade represents a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,782,918 shares of company stock worth $45,391,343 over the last three months. Company insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SOUN. Wedbush boosted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Barclays restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Finally, LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SoundHound AI presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.07.

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.