Deuterium Capital Management LLC Purchases Shares of 75,100 SoundHound AI, Inc. (NASDAQ:SOUN)

Deuterium Capital Management LLC purchased a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 75,100 shares of the company’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its position in shares of SoundHound AI by 1,238.7% during the fourth quarter. Bank of America Corp DE now owns 14,726 shares of the company’s stock worth $26,000 after acquiring an additional 13,626 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of SoundHound AI in the 1st quarter worth approximately $28,000. CTC Capital Management LLC bought a new stake in shares of SoundHound AI in the 1st quarter valued at $36,000. Victory Capital Management Inc. acquired a new stake in shares of SoundHound AI during the first quarter worth $36,000. Finally, Metropolitan Life Insurance Co NY bought a new position in SoundHound AI during the second quarter worth $36,000. 26.96% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Stock Down 4.5 %

SOUN traded down $0.10 during trading on Tuesday, hitting $2.12. 5,088,936 shares of the company’s stock were exchanged, compared to its average volume of 13,337,999. SoundHound AI, Inc. has a fifty-two week low of $0.93 and a fifty-two week high of $5.11. The stock has a market cap of $510.29 million, a P/E ratio of -4.45 and a beta of 0.84. The business’s 50 day moving average is $1.89 and its two-hundred day moving average is $2.56. The company has a quick ratio of 4.70, a current ratio of 4.70 and a debt-to-equity ratio of 4.80.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Friday, November 10th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $13.30 million during the quarter, compared to the consensus estimate of $12.78 million. SoundHound AI’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. As a group, equities analysts expect that SoundHound AI, Inc. will post -0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOUN has been the topic of a number of research analyst reports. DA Davidson started coverage on shares of SoundHound AI in a research report on Tuesday, September 26th. They set a “buy” rating and a $5.00 price target on the stock. HC Wainwright started coverage on SoundHound AI in a research note on Tuesday, September 5th. They set a “buy” rating and a $5.00 target price for the company. Finally, Cantor Fitzgerald lowered their target price on SoundHound AI from $4.20 to $3.60 and set an “overweight” rating for the company in a report on Friday, November 10th.

Insider Activity at SoundHound AI

In related news, CTO Timothy Stonehocker sold 14,283 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $1.93, for a total value of $27,566.19. Following the completion of the sale, the chief technology officer now directly owns 1,011,935 shares of the company’s stock, valued at approximately $1,953,034.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Timothy Stonehocker sold 14,283 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $1.93, for a total transaction of $27,566.19. Following the transaction, the chief technology officer now directly owns 1,011,935 shares in the company, valued at $1,953,034.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James Ming Hom sold 21,820 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $2.07, for a total transaction of $45,167.40. Following the completion of the sale, the insider now owns 574,372 shares of the company’s stock, valued at approximately $1,188,950.04. The disclosure for this sale can be found here. Insiders have sold a total of 166,666 shares of company stock valued at $341,054 over the last 90 days. Insiders own 21.30% of the company’s stock.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.