Shares of SoundHound AI, Inc. (NASDAQ:SOUN – Get Rating) traded down 5.1% on Monday . The company traded as low as $2.90 and last traded at $2.99. 4,160,972 shares changed hands during trading, a decline of 72% from the average session volume of 14,608,533 shares. The stock had previously closed at $3.15.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Northland Securities reduced their target price on SoundHound AI from $6.00 to $4.50 in a report on Friday, January 6th. Cantor Fitzgerald raised SoundHound AI from a "neutral" rating to an "overweight" rating in a research report on Wednesday, November 30th.
Get SoundHound AI alerts:SoundHound AI Trading Up 2.1 %
The company has a debt-to-equity ratio of 5.66, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average price of $2.40 and a 200 day moving average price of $2.42.
Insider Transactions at SoundHound AI
In other SoundHound AI news, Director Eric R. Ball acquired 3,334 shares of the stock in a transaction that occurred on Friday, January 20th. The shares were acquired at an average cost of $30.00 per share, with a total value of $100,020.00. Following the transaction, the director now owns 3,334 shares of the company's stock, valued at approximately $100,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SoundHound AI news, Director Eric R. Ball acquired 3,334 shares of the stock in a transaction that occurred on Friday, January 20th. The shares were acquired at an average cost of $30.00 per share, with a total value of $100,020.00. Following the transaction, the director now owns 3,334 shares of the company's stock, valued at approximately $100,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Timothy Stonehocker sold 15,000 shares of the company's stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $3.77, for a total value of $56,550.00. Following the completion of the transaction, the chief technology officer now directly owns 1,055,380 shares in the company, valued at $3,978,782.60. The disclosure for this sale can be found here. Insiders have sold a total of 26,273 shares of company stock valued at $81,275 in the last ninety days. 23.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On SoundHound AI
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cota Capital Management LLC bought a new position in shares of SoundHound AI during the 2nd quarter valued at $5,463,000. Vanguard Group Inc. lifted its holdings in shares of SoundHound AI by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,598,194 shares of the company's stock valued at $5,242,000 after buying an additional 44,068 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SoundHound AI by 32.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,296,292 shares of the company's stock valued at $2,294,000 after buying an additional 319,666 shares during the period. Nomura Holdings Inc. bought a new position in shares of SoundHound AI during the 3rd quarter valued at $3,461,000. Finally, Geode Capital Management LLC increased its stake in shares of SoundHound AI by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,059,805 shares of the company's stock worth $1,875,000 after purchasing an additional 8,510 shares in the last quarter. 8.72% of the stock is owned by institutional investors.
SoundHound AI Company Profile
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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 The company is headquartered in Santa Clara, California.
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