James Ming Hom Sells 58,382 Shares of SoundHound AI, Inc. (NASDAQ:SOUN) Stock

SoundHound AI, Inc. (NASDAQ:SOUN) insider James Ming Hom sold 58,382 shares of SoundHound AI stock in a transaction on Monday, December 16th. The shares were sold at an average price of $18.35, for a total value of $1,071,309.70. Following the completion of the transaction, the insider now owns 754,811 shares in the company, valued at approximately $13,850,781.85. The trade was a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

James Ming Hom also recently made the following trade(s):

• On Wednesday, December 4th, James Ming Hom sold 53,891 shares of SoundHound AI stock. The shares were sold at an average price of $10.00, for a total value of $538,910.00.
• On Friday, September 20th, James Ming Hom sold 21,024 shares of SoundHound AI stock. The stock was sold at an average price of $4.88, for a total value of $102,597.12.

SoundHound AI Trading Down 9.5 %

NASDAQ SOUN opened at $18.85 on Friday. The firm has a market capitalization of $6.97 billion, a PE ratio of -52.36 and a beta of 3.03. The business’s 50-day moving average price is $8.67 and its two-hundred day moving average price is $6.09. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI, Inc. has a 12 month low of $1.62 and a 12 month high of $24.08.

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

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently modified their holdings of the company. Kings Path Partners LLC acquired a new position in SoundHound AI in the second quarter valued at $28,000. NBC Securities Inc. lifted its stake in shares of SoundHound AI by 97.8% in the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after purchasing an additional 3,818 shares during the period. International Assets Investment Management LLC bought a new stake in shares of SoundHound AI during the 2nd quarter valued at about $31,000. Farther Finance Advisors LLC grew its stake in SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after purchasing an additional 6,716 shares during the period. Finally, Amalgamated Bank increased its holdings in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares in the last quarter. 19.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush lifted their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday. HC Wainwright upped their price target on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Barclays reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, DA Davidson reissued a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.