SoundHound AI (NASDAQ:SOUNW) Trading 5% Higher – Time to Buy?

SoundHound AI, Inc. (NASDAQ:SOUNW)’s stock price rose 5% during mid-day trading on Wednesday . The stock traded as high as $9.15 and last traded at $8.40. Approximately 170,625 shares changed hands during mid-day trading, an increase of 83% from the average daily volume of 93,218 shares. The stock had previously closed at $8.00.

SoundHound AI Stock Up 5.0%

The firm has a 50 day moving average price of $6.57 and a 200-day moving average price of $5.09.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SoundHound AI stock. Wolverine Asset Management LLC lifted its position in SoundHound AI, Inc. (NASDAQ:SOUNW) by 175.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,365 shares of the company’s stock after purchasing an additional 8,519 shares during the quarter. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $60,000 as of its most recent SEC filing.

About SoundHound AI

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.