SoundHound AI (NASDAQ:SOUN) Shares Down 1% – Time to Sell?

SoundHound AI, Inc. (NASDAQ:SOUN)’s stock price traded down 1% during trading on Wednesday . The stock traded as low as $11.78 and last traded at $11.82. 19,777,458 shares were traded during mid-day trading, a decline of 56% from the average session volume of 45,282,531 shares. The stock had previously closed at $11.94.

Analyst Ratings Changes

SOUN has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of SoundHound AI in a report on Thursday, September 11th. Piper Sandler lifted their price target on shares of SoundHound AI from $12.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. HC Wainwright upped their price objective on shares of SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Wall Street Zen lowered shares of SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $16.00 in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.42.

SoundHound AI Price Performance

The stock’s fifty day moving average is $16.22 and its 200-day moving average is $13.26. The stock has a market cap of $4.97 billion, a PE ratio of -14.10 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. SoundHound AI had a negative return on equity of 93.64% and a negative net margin of 211.16%.The company had revenue of $42.05 million for the quarter, compared to the consensus estimate of $40.48 million. During the same quarter in the prior year, the business earned ($0.04) EPS. SoundHound AI’s revenue was up 67.6% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at SoundHound AI

In other news, COO Michael Zagorsek sold 69,837 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total value of $1,117,392.00. Following the completion of the transaction, the chief operating officer directly owned 1,860,790 shares in the company, valued at approximately $29,772,640. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nitesh Sharan sold 60,376 shares of SoundHound AI stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $21.21, for a total value of $1,280,574.96. Following the sale, the chief financial officer owned 1,765,928 shares in the company, valued at $37,455,332.88. This represents a 3.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 787,260 shares of company stock worth $13,973,056 over the last three months. Company insiders own 9.17% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently made changes to their positions in SOUN. Danske Bank A S bought a new stake in SoundHound AI in the third quarter worth approximately $26,000. Investors Research Corp increased its stake in shares of SoundHound AI by 62.4% in the 3rd quarter. Investors Research Corp now owns 1,822 shares of the company’s stock valued at $29,000 after purchasing an additional 700 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of SoundHound AI during the 3rd quarter worth $32,000. Sound Income Strategies LLC lifted its position in shares of SoundHound AI by 37.3% during the 3rd quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock worth $34,000 after buying an additional 575 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in SoundHound AI by 83.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,060 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Company 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.