SoundHound AI Sees Unusually High Options Volume (NASDAQ:SOUN)

SoundHound AI, Inc. (NASDAQ:SOUN) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 375,284 call options on the company. This represents an increase of approximately 292% compared to the typical daily volume of 95,707 call options.

Insider Buying and Selling at SoundHound AI

In other news, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $15.04, for a total value of $6,999,525.76. Following the completion of the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Majid Emami sold 298,086 shares of SoundHound AI stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $4,483,213.44. Following the sale, the vice president now owns 735,685 shares in the company, valued at approximately $11,064,702.40. The trade was a 28.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,035,416 shares of company stock valued at $26,334,544 in the last 90 days. Insiders own 12.28% of the company’s stock.

Institutional Trading of SoundHound AI

Institutional investors have recently modified their holdings of the company. Kings Path Partners LLC acquired a new position in SoundHound AI in the second quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of SoundHound AI during the 2nd quarter worth about $31,000. NBC Securities Inc. lifted its holdings in SoundHound AI by 97.8% during the 3rd 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 last quarter. 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 during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of SoundHound AI by 27.3% during the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after buying an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DA Davidson reiterated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Barclays reaffirmed a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright lifted their price target on SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average target price of $7.64.

SoundHound AI Trading Up 23.7 %

SOUN opened at $16.91 on Friday. SoundHound AI has a 12-month low of $1.62 and a 12-month high of $17.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The stock has a market capitalization of $6.25 billion, a PE ratio of -46.97 and a beta of 3.03. The firm’s fifty day moving average price is $7.48 and its 200 day moving average price is $5.68.

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