SoundHound AI, Inc. (NASDAQ:SOUNW – Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 28,327 shares, a drop of 39.8% from the April 30th total of 47,087 shares. Based on an average trading volume of 49,975 shares, the short-interest ratio is presently 0.6 days.
SoundHound AI Stock Up 1.7%
Shares of NASDAQ SOUNW traded up $0.04 during mid-day trading on Thursday, hitting $2.46. The company’s stock had a trading volume of 8,181 shares, compared to its average volume of 31,072. The company’s fifty day simple moving average is $2.52 and its 200-day simple moving average is $3.31. SoundHound AI has a one year low of $1.60 and a one year high of $10.85.
Institutional Inflows and Outflows
An institutional investor recently raised its position in SoundHound AI stock. Aristeia Capital L.L.C. lifted its position in shares of SoundHound AI, Inc. (NASDAQ:SOUNW – Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,720 shares of the company’s stock after purchasing an additional 9,231 shares during the quarter. Aristeia Capital L.L.C.’s holdings in SoundHound AI were worth $843,000 at the end of the most recent reporting period.
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.
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