Investors Buy High Volume of SoundHound AI Call Options (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN) was the target of unusually large options trading activity on Wednesday. Investors bought 154,159 call options on the stock. This represents an increase of approximately 112% compared to the average daily volume of 72,787 call options.

Insider Buying and Selling

In other news, CEO Keyvan Mohajer sold 116,504 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $3.95, for a total value of $460,190.80. Following the completion of the transaction, the chief executive officer now owns 953,333 shares in the company, valued at approximately $3,765,665.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Nitesh Sharan sold 22,384 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $4.04, for a total transaction of $90,431.36. Following the transaction, the chief financial officer now directly owns 728,633 shares in the company, valued at $2,943,677.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Keyvan Mohajer sold 116,504 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $3.95, for a total transaction of $460,190.80. Following the sale, the chief executive officer now directly owns 953,333 shares in the company, valued at $3,765,665.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,728 shares of company stock worth $1,815,476. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors have recently modified their holdings of SOUN. City State Bank increased its position in SoundHound AI by 1,225.0% during the second quarter. City State Bank now owns 11,925 shares of the company’s stock worth $47,000 after acquiring an additional 11,025 shares during the period. Cetera Advisors LLC bought a new position in shares of SoundHound AI during the first quarter worth approximately $327,000. Strategic Wealth Partners Ltd. acquired a new stake in shares of SoundHound AI in the first quarter valued at approximately $73,000. Janus Henderson Group PLC boosted its stake in shares of SoundHound AI by 563.0% in the first quarter. Janus Henderson Group PLC now owns 482,731 shares of the company’s stock valued at $2,843,000 after buying an additional 409,917 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in SoundHound AI during the first quarter worth approximately $162,000. Institutional investors own 19.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SOUN shares. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of SoundHound AI in a report on Friday, May 10th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Monday, May 13th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price for the company in a research note on Thursday, April 11th. Finally, DA Davidson increased their price target on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

SoundHound AI Trading Up 22.5 %

Shares of SOUN stock opened at $5.07 on Thursday. SoundHound AI has a 12-month low of $1.49 and a 12-month high of $10.25. The company has a market capitalization of $1.67 billion, a PE ratio of -13.34 and a beta of 2.76. The firm has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $4.20. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The firm’s quarterly revenue was up 72.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. As a group, analysts predict that SoundHound AI will post -0.33 earnings per share for the current year.

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.