Stock Traders Purchase Large Volume of SoundHound AI Call Options

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