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

SoundHound AI, Inc. (NASDAQ:SOUNW) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 50,692 shares, an increase of 48.5% from the January 29th total of 34,140 shares. Based on an average daily trading volume, of 34,171 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 34,171 shares, the short-interest ratio is currently 1.5 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SoundHound AI stock. Wolverine Asset Management LLC raised its position in SoundHound AI, Inc. (NASDAQ:SOUNW) by 30.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 17,399 shares of the company’s stock after buying an additional 4,034 shares during the period. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $125,000 as of its most recent filing with the SEC.

SoundHound AI Stock Down 10.9%

NASDAQ:SOUNW traded down $0.38 during mid-day trading on Friday, reaching $3.10. 72,459 shares of the company were exchanged, compared to its average volume of 32,350. SoundHound AI has a 12 month low of $2.27 and a 12 month high of $10.85. The company has a fifty day moving average of $3.52 and a 200 day moving average of $5.48.

About SoundHound AI

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.