SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) VP Majid Emami sold 298,086 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $4,483,213.44. Following the transaction, the vice president now owns 735,685 shares of the company's stock, valued at $11,064,702.40. This represents a 28.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Majid Emami also recently made the following trade(s):
SOUN stock traded down $0.83 during midday trading on Tuesday, hitting $14.23. The stock had a trading volume of 88,813,180 shares, compared to its average volume of 37,752,652. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of -39.53 and a beta of 3.03. SoundHound AI, Inc. has a 52 week low of $1.62 and a 52 week high of $16.07. The stock has a 50-day simple moving average of $6.88 and a 200 day simple moving average of $5.48. 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 (NASDAQ:SOUN - Get Free Report) last issued 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. The company had revenue of $25.10 million during 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 business's revenue was up 88.7% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. As a group, equities research analysts anticipate that SoundHound AI, Inc. will post -0.38 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SOUN. Kings Path Partners LLC bought a new stake in shares of SoundHound AI in the 2nd quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of SoundHound AI in the 2nd quarter valued at about $31,000. NBC Securities Inc. increased 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 acquiring an additional 3,818 shares during the last quarter. Amalgamated Bank increased its stake in SoundHound AI by 108.0% during the 2nd 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. Finally, Signaturefd LLC increased its stake in SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company's stock worth $41,000 after purchasing an additional 2,200 shares in the last quarter. 19.28% of the stock is owned by institutional investors.
SOUN has been the subject of several research reports. Wedbush restated an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a research report on Thursday, September 26th. HC Wainwright increased their price target on shares of SoundHound AI from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. DA Davidson reissued a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH restated a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Barclays restated a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a report 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $7.64.
Get Our Latest Research Report on 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.
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