SoundHound AI (NASDAQ:SOUNW) Trading Up 3.8% – Time to Buy?

SoundHound AI, Inc. (NASDAQ:SOUNW)’s stock price rose 3.8% on Monday . The stock traded as high as $3.25 and last traded at $3.02. Approximately 35,276 shares traded hands during trading, an increase of 10% from the average daily volume of 32,208 shares. The stock had previously closed at $2.91.

SoundHound AI Price Performance

The firm’s 50 day moving average price is $4.29 and its 200-day moving average price is $5.81.

Institutional Trading of SoundHound AI

A hedge fund recently raised its stake in SoundHound AI stock. Wolverine Asset Management LLC lifted its stake in SoundHound AI, Inc. (NASDAQ:SOUNW) by 30.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,399 shares of the company’s stock after purchasing an additional 4,034 shares during the period. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $125,000 at the end of the most recent quarter.

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.