Short Interest in SoundHound AI, Inc. (NASDAQ:SOUNW) Drops By 25.1%

SoundHound AI, Inc. (NASDAQ:SOUNW) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 45,091 shares, a decline of 25.1% from the February 26th total of 60,165 shares. Based on an average daily volume of 22,066 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SoundHound AI stock. Wolverine Asset Management LLC boosted its position in SoundHound AI, Inc. (NASDAQ:SOUNW) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,399 shares of the company’s stock after acquiring an additional 4,034 shares during the quarter. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

SoundHound AI Price Performance

SOUNW stock opened at $1.99 on Friday. The firm has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $4.96. SoundHound AI has a one year low of $1.95 and a one year high of $10.85.

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.