Choreo LLC Invests $49,000 in SoundHound AI, Inc. (NASDAQ:SOUN)

Choreo LLC bought a new stake in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,629 shares of the company’s stock, valued at approximately $49,000.

Several other institutional investors have also bought and sold shares of SOUN. Hexagon Capital Partners LLC bought a new stake in shares of SoundHound AI in the 1st quarter worth $29,000. DecisionPoint Financial LLC purchased a new stake in SoundHound AI in the 1st quarter valued at about $40,000. Kings Path Partners LLC bought a new position in shares of SoundHound AI during the 2nd quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of SoundHound AI in the 2nd quarter worth approximately $31,000. Finally, Ballew Advisors Inc bought a new position in shares of SoundHound AI in the first quarter valued at approximately $59,000. Institutional investors own 19.28% of the company’s stock.

Insider Activity at SoundHound AI

In other SoundHound AI news, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the sale, the director now owns 74,038 shares of the company’s stock, valued at approximately $371,670.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Timothy Stonehocker sold 208,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.75, for a total value of $1,196,000.00. Following the completion of the transaction, the chief technology officer now directly owns 659,531 shares in the company, valued at $3,792,303.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the transaction, the director now directly owns 74,038 shares of the company’s stock, valued at approximately $371,670.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,504 shares of company stock worth $1,907,191. Corporate insiders own 21.30% of the company’s stock.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $4.97 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of -13.08 and a beta of 2.74. SoundHound AI, Inc. has a one year low of $1.49 and a one year high of $10.25. The business’s fifty day moving average price is $4.91 and its 200-day moving average price is $4.99.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. SoundHound AI’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Friday, August 9th. Northland Securities lifted their target price on SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $5.00 to $7.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.08.

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.