SoundHound AI, Inc. (NASDAQ:SOUNW) Sees Significant Drop in Short Interest

SoundHound AI, Inc. (NASDAQ:SOUNW) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 5,300 shares, a decrease of 47.5% from the September 15th total of 10,100 shares. Based on an average daily trading volume, of 87,400 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 87,400 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of SoundHound AI

An institutional investor recently raised its position in SoundHound AI stock. Wolverine Asset Management LLC lifted its holdings in SoundHound AI, Inc. (NASDAQ:SOUNW) by 175.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,365 shares of the company’s stock after buying an additional 8,519 shares during the quarter. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $60,000 as of its most recent SEC filing.

SoundHound AI Stock Down 3.5%

NASDAQ:SOUNW opened at $8.04 on Thursday. The firm’s 50-day moving average price is $7.20 and its 200-day moving average price is $5.44. SoundHound AI has a 1-year low of $1.71 and a 1-year high of $21.50.

SoundHound AI (NASDAQ:SOUNW) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $6.71 million for the quarter.

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.