Jackson Hole Capital Partners LLC Makes New $374,000 Investment in SoundHound AI, Inc. (NASDAQ:SOUN)

Jackson Hole Capital Partners LLC purchased a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 18,850 shares of the company’s stock, valued at approximately $374,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 1,271 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $40,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $40,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $42,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Trading Up 2.0 %

Shares of SoundHound AI stock opened at $9.74 on Friday. SoundHound AI, Inc. has a 52-week low of $3.50 and a 52-week high of $24.98. The stock’s 50-day simple moving average is $14.00 and its 200 day simple moving average is $10.08. The stock has a market capitalization of $3.83 billion, a P/E ratio of -27.06 and a beta of 2.62. 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 (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. As a group, research analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOUN. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a research note on Monday, February 24th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Barclays reiterated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush lifted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Finally, DA Davidson lifted their target price on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SoundHound AI has a consensus rating of “Hold” and a consensus price target of $12.86.

Insider Buying and Selling

In other SoundHound AI news, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the sale, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Majid Emami sold 298,086 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $4,483,213.44. Following the sale, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $11,064,702.40. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,788,257 shares of company stock worth $31,895,182. Insiders own 12.28% of the company’s stock.

SoundHound AI 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.