SoundHound AI（納斯達克股票代碼：SOUN）股價下跌 0.7% - 以下是原因
SoundHound AI (NASDAQ:SOUN) shares fell 0.7% to $7.13, with trading volume down 83% from average levels. Analysts have mixed ratings, with Cantor Fitzgerald upgrading to "hold" and HC Wainwright maintaining a "buy" with a $26 target. The company reported a quarterly EPS of ($0.69), missing estimates, and had a negative net margin of 163.58%. Insider selling was noted, with significant shares sold by CTO and VP. Institutional ownership stands at 19.28%.
Shares of SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) dropped 0.7% during trading on Wednesday . The company traded as low as $7.05 and last traded at $7.13. Approximately 6,369,548 shares traded hands during trading, a decline of 83% from the average daily volume of 37,868,196 shares. The stock had previously closed at $7.18.
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Wall Street Analysts Forecast Growth
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Several equities analysts recently commented on SOUN shares. Cantor Fitzgerald upgraded shares of SoundHound AI to a "hold" rating in a report on Monday, February 24th. HC Wainwright reiterated a "buy" rating and issued a $26.00 price target on shares of SoundHound AI in a report on Monday, March 3rd. Wedbush boosted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Northland Securities upped their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. Finally, DA Davidson lifted their target price on SoundHound AI from $9.50 to $13.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.86.
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SoundHound AI Price Performance
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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 firm has a fifty day simple moving average of $10.29 and a 200 day simple moving average of $10.77. The company has a market capitalization of $3.30 billion, a PE ratio of -23.00 and a beta of 2.73.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $34.54 million for the quarter, compared to analysts' expectations of $33.70 million. Equities analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.
Insider Activity
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In related news, CTO Timothy Stonehocker sold 27,714 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $274,368.60. Following the sale, the chief technology officer now owns 768,867 shares of the company's stock, valued at $7,611,783.30. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Majid Emami sold 28,392 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,080.80. Following the completion of the transaction, the vice president now owns 669,834 shares of the company's stock, valued at $6,631,356.60. This represents a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 500,565 shares of company stock worth $4,999,726. Corporate insiders own 12.28% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in SoundHound AI in the fourth quarter worth $3,432,000. Oriental Harbor Investment Fund purchased a new position in SoundHound AI during the 4th quarter worth $8,964,000. Geode Capital Management LLC increased its position in SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company's stock valued at $33,529,000 after buying an additional 602,311 shares in the last quarter. Wealth Effects LLC purchased a new stake in SoundHound AI in the fourth quarter valued at about $357,000. Finally, Franklin Resources Inc. acquired a new stake in SoundHound AI in the third quarter worth about $177,000. Hedge funds and other institutional investors own 19.28% of the company's stock.
SoundHound AI Company Profile
(Get Free Report)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.
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