SoundHound AI, Inc. (NASDAQ:SOUNW) Sees Significant Increase in Short Interest

SoundHound AI, Inc. (NASDAQ:SOUNW) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 56,986 shares, a growth of 26.4% from the March 15th total of 45,091 shares. Based on an average daily trading volume, of 22,784 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of SoundHound AI

An institutional investor recently raised its position in SoundHound AI stock. Aristeia Capital L.L.C. boosted its position in shares of SoundHound AI, Inc. (NASDAQ:SOUNW) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,720 shares of the company’s stock after purchasing an additional 9,231 shares during the period. Aristeia Capital L.L.C.’s holdings in SoundHound AI were worth $843,000 at the end of the most recent reporting period.

SoundHound AI Stock Up 4.5%

Shares of SoundHound AI stock opened at $2.88 on Friday. SoundHound AI has a 12 month low of $1.60 and a 12 month high of $10.85. The stock’s fifty day simple moving average is $2.56 and its 200 day simple moving average is $4.47.

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.