Short Interest in SoundHound AI, Inc. (NASDAQ:SOUNW) Rises By 538.2%

SoundHound AI, Inc. (NASDAQ:SOUNW) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 30,606 shares, an increase of 538.2% from the December 15th total of 4,796 shares. Based on an average daily volume of 45,161 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 45,161 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of SoundHound AI

A hedge fund recently raised its stake in SoundHound AI stock. Wolverine Asset Management LLC increased its stake in SoundHound AI, Inc. (NASDAQ:SOUNW) by 175.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,365 shares of the company’s stock after buying an additional 8,519 shares during the period. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

SoundHound AI Trading Down 0.6%

NASDAQ SOUNW traded down $0.03 on Monday, hitting $4.60. The company’s stock had a trading volume of 38,060 shares, compared to its average volume of 34,651. The company’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $5.97. SoundHound AI has a 52-week low of $2.27 and a 52-week high of $10.95.

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

SoundHound AI Company Profile

SoundHound AI, Inc is a technology company specializing in voice-enabled artificial intelligence and conversational intelligence platforms. The company develops core speech recognition, natural language understanding and sound recognition software that enables seamless voice interaction across a variety of devices. Through its proprietary Speech-to-Meaning™ and DeepMeaning™ technologies, SoundHound AI aims to deliver fast and accurate voice interfaces that can comprehend complex queries in real time.

At the heart of the company’s offerings is the Houndify® voice AI platform, which provides developers and enterprises with tools to build custom voice assistants and conversational experiences.