Aristides Capital LLC Has $312,000 Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Aristides Capital LLC cut its holdings in SoundHound AI, Inc. (NASDAQ:SOUN) by 73.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,001 shares of the company’s stock after selling 220,699 shares during the period. Aristides Capital LLC’s holdings in SoundHound AI were worth $312,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOUN. Ameritas Investment Partners Inc. boosted its holdings in SoundHound AI by 17.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,561 shares of the company’s stock valued at $80,000 after purchasing an additional 2,000 shares during the period. Genesee Capital Advisors LLC lifted its position in shares of SoundHound AI by 11.4% in the 2nd quarter. Genesee Capital Advisors LLC now owns 19,468 shares of the company’s stock worth $77,000 after acquiring an additional 2,000 shares during the period. Signaturefd LLC grew its holdings in shares of SoundHound AI by 27.3% during the 2nd quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after purchasing an additional 2,200 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of SoundHound AI by 13.7% during the second quarter. Sequoia Financial Advisors LLC now owns 20,683 shares of the company’s stock valued at $82,000 after purchasing an additional 2,500 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of SoundHound AI by 16.5% during the first quarter. Principal Financial Group Inc. now owns 18,560 shares of the company’s stock valued at $109,000 after purchasing an additional 2,629 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, September 18th. Northland Securities upped their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a report on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.08.

SoundHound AI Trading Down 2.5 %

Shares of NASDAQ SOUN opened at $4.66 on Tuesday. SoundHound AI, Inc. has a 1-year low of $1.49 and a 1-year high of $10.25. The company has a 50-day moving average of $4.83 and a two-hundred day moving average of $4.89. The company has a market cap of $1.53 billion, a PE ratio of -12.26 and a beta of 2.74.

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

Insider Buying and Selling

In other news, CTO Timothy Stonehocker sold 20,337 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $99,244.56. Following the transaction, the chief technology officer now owns 1,039,194 shares of the company’s stock, valued at approximately $5,071,266.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SoundHound AI news, Director Lawrence Marcus sold 50,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the transaction, the director now owns 74,038 shares of the company’s stock, valued at $371,670.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Timothy Stonehocker sold 20,337 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $99,244.56. Following the transaction, the chief technology officer now owns 1,039,194 shares of the company’s stock, valued at $5,071,266.72. The disclosure for this sale can be found here. Insiders sold a total of 535,275 shares of company stock worth $2,802,644 over the last three months. 21.30% of the stock is currently owned by company insiders.

SoundHound AI Company Profile

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.