SoundHound AI, Inc. (NASDAQ:SOUNW) Sees Large Decline in Short Interest

SoundHound AI, Inc. (NASDAQ:SOUNW) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 42 shares, a decline of 99.2% from the September 15th total of 5,124 shares. Based on an average daily volume of 40,981 shares, the days-to-cover ratio is presently 0.0 days.

SoundHound AI Price Performance

Shares of SOUNW traded down $0.21 during mid-day trading on Friday, hitting $0.33. The company’s stock had a trading volume of 126,151 shares, compared to its average volume of 29,234. The company’s 50-day moving average is $1.13 and its 200-day moving average is $1.84. SoundHound AI has a 52-week low of $0.30 and a 52-week high of $10.85.

Hedge Funds Weigh In On SoundHound AI

An institutional investor recently bought a new stake in SoundHound AI stock. Headlands Technologies LLC bought a new position in shares of SoundHound AI, Inc. (NASDAQ:SOUNW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 397,524 shares of the company’s stock, valued at approximately $763,000.

About SoundHound AI

SoundHound AI, Inc develops voice artificial intelligence and conversational intelligence technologies. Its platform is designed to let people interact with devices, applications and services using natural language, supporting voice-enabled search, question answering and task completion.

The company’s primary offering, the Houndify platform, provides tools and infrastructure for businesses to create branded voice assistants. SoundHound serves industries including automotive, restaurants, consumer electronics and enterprise software, with applications such as in-vehicle assistants, voice ordering, customer service and business information retrieval.

SoundHound was founded in 2005 by Keyvan Mohajer, who serves as its chief executive officer.