SoundHound AI, Inc. saw unusually large options trading activity on Monday. Investors acquired 64,457 call options on the stock. This is an increase of 447% compared to the average daily volume of 11,783 call options.Insiders Place Their BetsIn other SoundHound AI news, CEO Keyvan Mohajer sold 70,098 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $2.20, for a total transaction of $154,215.60.
SoundHound AI, Inc. saw unusually large options trading activity on Monday. Investors acquired 64,457 call options on the stock. This is an increase of 447% compared to the average daily volume of 11,783 call options.
Insiders Place Their Bets
In other SoundHound AI news, CEO Keyvan Mohajer sold 70,098 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $2.20, for a total transaction of $154,215.60. Following the completion of the transaction, the chief executive officer now directly owns 1,326,639 shares of the company’s stock, valued at approximately $2,918,605.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SoundHound AI news, CEO Keyvan Mohajer sold 70,098 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $154,215.60. Following the transaction, the chief executive officer now owns 1,326,639 shares of the company’s stock, valued at $2,918,605.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 23,094 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $50,806.80. Following the transaction, the chief financial officer now directly owns 775,819 shares of the company’s stock, valued at $1,706,801.80. Insiders sold a total of 297,448 shares of company stock valued at $823,608 in the last ninety days. Corporate insiders own 21.30% of the company’s stock.
Institutional Investors Weigh In On SoundHound AI
Several large investors have recently modified their holdings of SOUN. Raymond James & Associates boosted its holdings in shares of SoundHound AI by 221.1% during the third quarter. Raymond James & Associates now owns 982,948 shares of the company’s stock worth $1,976,000 after purchasing an additional 676,799 shares during the period. Principal Financial Group Inc. bought a new position in shares of SoundHound AI in the second quarter worth about $75,000. Victory Capital Management Inc. grew its holdings in shares of SoundHound AI by 45.0% in 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 in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of SoundHound AI by 30.0% during the third quarter. Commonwealth Equity Services LLC now owns 72,853 shares of the company’s stock valued at $146,000 after purchasing an additional 16,801 shares during the period. Finally, Simplicity Solutions LLC bought a new stake in shares of SoundHound AI in the third quarter valued at about $71,000. Hedge funds and other institutional investors own 26.96% of the company’s stock.
SoundHound AI Stock Performance
NASDAQ:SOUN opened at $5.75 on Tuesday. The stock has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.15. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $5.95. The company has a debt-to-equity ratio of 7.22, a quick ratio of 5.11 and a current ratio of 5.11. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -12.23 and a beta of 1.09.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH began coverage on shares of SoundHound AI in a research report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of SoundHound AI in a report on Monday, December 11th. Finally, Cantor Fitzgerald decreased their target price on SoundHound AI from $4.20 to $3.60 and set an “overweight” rating on the stock in a research report on Friday, November 10th.
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.
Source: Americanbankingnews