17,900 Shares in SoundHound AI, Inc. (NASDAQ:SOUN) Purchased by Kraematon Investment Advisors Inc.

Kraematon Investment Advisors Inc. bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 17,900 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors also recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of SoundHound AI by 106.6% in the 2nd quarter. Rhumbline Advisers now owns 360,167 shares of the company’s stock worth $1,423,000 after acquiring an additional 185,861 shares during the period. Victory Capital Management Inc. increased its stake in shares of SoundHound AI by 9.0% in the second quarter. Victory Capital Management Inc. now owns 36,511 shares of the company’s stock valued at $144,000 after purchasing an additional 3,017 shares during the period. Choreo LLC bought a new stake in shares of SoundHound AI during the second quarter valued at approximately $49,000. Amalgamated Bank boosted its position in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in SoundHound AI by 928.9% in the 2nd quarter. Hsbc Holdings PLC now owns 155,975 shares of the company’s stock worth $613,000 after buying an additional 140,815 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

SoundHound AI Trading Up 0.6 %

NASDAQ:SOUN opened at $13.97 on Friday. The company has a 50-day moving average of $13.76 and a 200-day moving average of $8.01. 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, Inc. has a twelve month low of $1.62 and a twelve month high of $24.98.

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. 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. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI has an average rating of “Moderate Buy” and an average target price of $12.36.

Insider Buying and Selling

In other SoundHound AI news, CTO Timothy Stonehocker sold 34,407 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $698,462.10. Following the completion of the sale, the chief technology officer now directly owns 796,581 shares of the company’s stock, valued at approximately $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Marcus sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $7.15, for a total transaction of $214,500.00. Following the completion of the transaction, the director now directly owns 178,117 shares in the company, valued at approximately $1,273,536.55. This trade represents a 14.41 % 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 in the last three months. 12.28% of the stock is currently owned by insiders.

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.