Silverleafe Capital Partners LLC Acquires New Position in SoundHound AI, Inc. (NASDAQ:SOUN)

Silverleafe Capital Partners LLC bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,000 shares of the company’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SOUN. State Street Corp lifted its stake in SoundHound AI by 0.6% in the third quarter. State Street Corp now owns 7,197,414 shares of the company’s stock valued at $33,540,000 after buying an additional 42,869 shares during the period. Geode Capital Management LLC raised its position in shares of SoundHound AI by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in SoundHound AI by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after acquiring an additional 189,109 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in SoundHound AI by 92.7% during the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company’s stock valued at $3,940,000 after purchasing an additional 479,912 shares during the period. Finally, Carnegie Investment Counsel bought a new position in SoundHound AI during the third quarter worth about $4,193,000. Institutional investors own 19.28% of the company’s stock.

Analysts Set New Price Targets

SOUN has been the topic of a number of research reports. HC Wainwright boosted their price target on SoundHound AI from $8.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 23rd. DA Davidson reissued a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Wedbush boosted their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Barclays reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.07.

Insider Activity at SoundHound AI

In related news, Director Eric R. Ball sold 30,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the completion of the transaction, the director now owns 110,907 shares in the company, valued at $890,583.21. The trade was a 21.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the sale, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. This represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is owned by insiders.

SoundHound AI Price Performance

SOUN traded down $0.95 on Monday, reaching $19.67. The company had a trading volume of 63,910,878 shares, compared to its average volume of 66,862,773. SoundHound AI, Inc. has a 52-week low of $1.62 and a 52-week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $7.27 billion, a price-to-earnings ratio of -54.64 and a beta of 3.03. The business has a 50 day simple moving average of $12.20 and a 200 day simple moving average of $7.40.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $23.02 million. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was up 88.7% on a year-over-year basis. As a group, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

SoundHound AI 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.