Hennion & Walsh Asset Management Inc. Invests $756,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

Hennion & Walsh Asset Management Inc. acquired a new stake in SoundHound AI, Inc. (NASDAQ:SOUN) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,106 shares of the company’s stock, valued at approximately $756,000.

Several other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. raised its position in shares of SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after purchasing an additional 3,818 shares during the period. Amalgamated Bank grew its stake in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock valued at $39,000 after buying an additional 5,099 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in SoundHound AI during the 4th quarter valued at $40,000. Farther Finance Advisors LLC lifted its position in shares of SoundHound AI by 298.5% during the third quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock worth $42,000 after acquiring an additional 6,716 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of SoundHound AI in the second quarter worth $43,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SOUN has been the topic of a number of analyst reports. Northland Securities boosted their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. DA Davidson restated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.36.

Insiders Place Their Bets

In other news, Director Eric R. Ball sold 30,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the sale, the director now owns 110,907 shares of the company’s stock, valued at approximately $890,583.21. This represents a 21.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Majid Emami sold 94,067 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35. Following the transaction, the vice president now directly owns 735,685 shares in the company, valued at approximately $6,657,949.25. This represents a 11.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 over the last 90 days. Insiders own 12.28% of the company’s stock.

SoundHound AI Trading Down 2.4 %

Shares of SOUN opened at $13.64 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI, Inc. has a 1-year low of $1.62 and a 1-year high of $24.98. The company has a market capitalization of $5.04 billion, a P/E ratio of -37.89 and a beta of 2.63. The firm’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $8.18.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm’s revenue was up 88.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. Sell-side analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal 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.