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

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) was the target of unusually large options trading activity on Friday. Stock traders bought 13,949 call options on the stock. This represents an increase of 322% compared to the typical daily volume of 3,304 call options.

SoundHound AI Trading Up 15.9 %

NASDAQ SOUN opened at $2.26 on Friday. SoundHound AI has a one year low of $1.49 and a one year high of $5.11. The company’s 50 day moving average price is $1.98 and its 200 day moving average price is $2.04. The company has a debt-to-equity ratio of 7.22, a quick ratio of 5.11 and a current ratio of 5.11. The firm has a market capitalization of $558.05 million, a price-to-earnings ratio of -4.81 and a beta of 1.09.

SoundHound AI (NASDAQ:SOUNGet Free Report) last posted its quarterly earnings results on Friday, November 10th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $13.30 million during the quarter, compared to analysts’ expectations of $12.78 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that SoundHound AI will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

SOUN has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of SoundHound AI in a report on Monday, December 11th. LADENBURG THALM/SH SH initiated coverage on shares of SoundHound AI in a report on Tuesday, January 30th. They set a “buy” rating and a $4.00 price objective on the stock. Finally, Cantor Fitzgerald cut their price objective on shares of SoundHound AI from $4.20 to $3.60 and set an “overweight” rating on the stock in a report on Friday, November 10th.

Get Our Latest Stock Analysis on SoundHound AI

Insider Buying and Selling

In related news, CEO Keyvan Mohajer sold 70,098 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $154,215.60. Following the sale, the chief executive officer now directly owns 1,326,639 shares in the company, valued at approximately $2,918,605.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Keyvan Mohajer sold 70,098 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $154,215.60. Following the completion of the transaction, the chief executive officer now owns 1,326,639 shares of the company’s stock, valued at approximately $2,918,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Marcus sold 37,271 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $2.21, for a total transaction of $82,368.91. Following the completion of the transaction, the director now directly owns 88,177 shares of the company’s stock, valued at approximately $194,871.17. The disclosure for this sale can be found here. Insiders have sold 188,504 shares of company stock worth $412,708 in the last three months. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of SoundHound AI

Several large investors have recently bought and sold shares of the company. US Bancorp DE acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $41,000. Cambridge Investment Research Advisors Inc. acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $32,000. UBS Group AG grew its position in SoundHound AI by 82.3% in the fourth quarter. UBS Group AG now owns 158,952 shares of the company’s stock valued at $337,000 after acquiring an additional 71,750 shares in the last quarter. Independent Advisor Alliance acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $28,000. Finally, Versor Investments LP acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $128,000. Institutional investors and hedge funds own 26.96% of the company’s stock.

SoundHound AI Company Profile

(Get Free Report)

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.

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