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

SoundHound AI, Inc. (NASDAQ:SOUN) saw unusually large options trading activity on Friday. Traders bought 375,284 call options on the company. This represents an increase of 292% compared to the typical volume of 95,707 call options.

SoundHound AI Price Performance

SOUN opened at $16.91 on Friday. The firm has a market cap of $6.25 billion, a P/E ratio of -46.97 and a beta of 3.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. SoundHound AI has a fifty-two week low of $1.62 and a fifty-two week high of $17.29. The firm has a 50-day moving average of $7.48 and a 200 day moving average of $5.68.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, insider James Ming Hom sold 21,024 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $102,597.12. Following the transaction, the insider now directly owns 865,965 shares of the company’s stock, valued at $4,225,909.20. This represents a 2.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Majid Emami sold 298,086 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 735,685 shares in the company, valued at $11,064,702.40. This trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,035,416 shares of company stock worth $26,334,544 over the last ninety days. 12.28% of the stock is currently owned by corporate insiders.

Institutional Trading of SoundHound AI

Large investors have recently modified their holdings of the business. Kings Path Partners LLC purchased a new stake in SoundHound AI in the second quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new stake in shares of SoundHound AI in the 2nd quarter valued at $31,000. NBC Securities Inc. grew its holdings in shares of 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 raised its position in SoundHound AI by 108.0% in the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after purchasing an additional 5,099 shares during the period. Finally, Signaturefd LLC lifted its stake in SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

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.