Great Valley Advisor Group Inc. Makes New $42,000 Investment in SoundHound AI, Inc. (NASDAQ:SOUN)

Great Valley Advisor Group Inc. acquired a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also made changes to their positions in the stock. IAM Advisory LLC bought a new position in SoundHound AI during the fourth quarter valued at about $29,000. Victory Capital Management Inc. increased its position in shares of SoundHound AI by 45.0% during the third quarter. Victory Capital Management Inc. now owns 21,658 shares of the company’s stock valued at $44,000 after purchasing an additional 6,717 shares during the period. SG Americas Securities LLC increased its position in shares of SoundHound AI by 40.2% during the fourth quarter. SG Americas Securities LLC now owns 38,243 shares of the company’s stock valued at $81,000 after purchasing an additional 10,957 shares during the period. Gratus Capital LLC raised its stake in shares of SoundHound AI by 50.0% in the third quarter. Gratus Capital LLC now owns 45,000 shares of the company’s stock valued at $90,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SoundHound AI by 102.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,840 shares of the company’s stock worth $97,000 after purchasing an additional 23,163 shares during the period. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Stock Down 5.2 %

Shares of NASDAQ SOUN opened at $4.94 on Wednesday. SoundHound AI, Inc. has a 1 year low of $1.49 and a 1 year high of $10.25. The firm’s 50-day moving average is $5.53 and its 200-day moving average is $3.35. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. The firm has a market capitalization of $1.53 billion, a PE ratio of -12.67 and a beta of 2.87.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $17.10 million during the quarter, compared to the consensus estimate of $17.75 million. SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. SoundHound AI’s revenue was up 80.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share. Equities analysts expect that SoundHound AI, Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HC Wainwright increased their price objective on shares of SoundHound AI from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a research report on Thursday, April 11th. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. LADENBURG THALM/SH SH started coverage on SoundHound AI in a report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 target price for the company. Finally, DA Davidson raised their target price on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.88.

Insider Buying and Selling

In other SoundHound AI news, CTO Timothy Stonehocker sold 5,276 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $7.70, for a total value of $40,625.20. Following the transaction, the chief technology officer now owns 982,584 shares of the company’s stock, valued at $7,565,896.80. 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 5,276 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $7.70, for a total transaction of $40,625.20. Following the completion of the transaction, the chief technology officer now owns 982,584 shares in the company, valued at $7,565,896.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Keyvan Mohajer sold 31,665 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $6.08, for a total transaction of $192,523.20. Following the completion of the sale, the chief executive officer now directly owns 1,137,831 shares of the company’s stock, valued at approximately $6,918,012.48. The disclosure for this sale can be found here. Insiders sold a total of 405,057 shares of company stock valued at $2,587,804 over the last three months. Company insiders own 21.30% of the company’s stock.

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.