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

SoundHound AI, Inc. (NASDAQ:SOUNW) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 11,900 shares, a decrease of 62.5% from the February 28th total of 31,700 shares. Based on an average daily trading volume, of 175,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SoundHound AI stock. Jane Street Group LLC boosted its holdings in SoundHound AI, Inc. (NASDAQ:SOUNW) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,155 shares of the company’s stock after buying an additional 9,174 shares during the quarter. Jane Street Group LLC’s holdings in SoundHound AI were worth $915,000 at the end of the most recent reporting period.

SoundHound AI Stock Down 7.9 %

Shares of SOUNW stock traded down $0.31 on Friday, reaching $3.63. The company had a trading volume of 44,848 shares, compared to its average volume of 115,336. The business’s 50-day moving average is $5.83 and its 200 day moving average is $5.22. SoundHound AI has a one year low of $1.21 and a one year high of $21.50.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.