SoundHound AI Target of Unusually Large Options Trading (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN) was the target of unusually large options trading on Thursday. Traders acquired 63,734 call options on the company. This is an increase of approximately 67% compared to the typical daily volume of 38,099 call options.

Insider Transactions at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 90,641 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08. Following the sale, the chief executive officer now owns 2,362,692 shares in the company, valued at $11,529,936.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Keyvan Mohajer sold 90,641 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the transaction, the chief executive officer now owns 2,362,692 shares in the company, valued at approximately $11,529,936.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the director now directly owns 74,038 shares of the company’s stock, valued at approximately $371,670.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,275 shares of company stock valued at $1,606,644. 21.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoundHound AI

Hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC acquired a new stake in shares of SoundHound AI during the first quarter worth $29,000. DecisionPoint Financial LLC bought a new position in SoundHound AI during the first quarter valued at approximately $40,000. Kings Path Partners LLC bought a new stake in SoundHound AI in the second quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of SoundHound AI during the 2nd quarter worth $31,000. Finally, 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. Institutional investors own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOUN shares. DA Davidson reiterated a “buy” rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush restated an “outperform” rating and set a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $5.00 to $7.00 in a research note on Friday, August 9th. Northland Securities increased their price objective on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.08.

SoundHound AI Stock Performance

NASDAQ:SOUN opened at $4.91 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -12.92 and a beta of 2.73. SoundHound AI has a one year low of $1.49 and a one year high of $10.25. The stock has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $4.76.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.09 million. SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The firm’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, equities research analysts forecast that SoundHound AI will post -0.36 EPS for the current fiscal year.

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.