SoundHound AI (NASDAQ:SOUNW) Stock Price Down 4.7% – Should You Sell?

SoundHound AI, Inc. (NASDAQ:SOUNW) traded down 4.7% during mid-day trading on Tuesday . The stock traded as low as $4.77 and last traded at $5.10. 31,875 shares were traded during trading, a decline of 65% from the average session volume of 91,207 shares. The stock had previously closed at $5.35.

SoundHound AI Stock Down 4.7%

The business’s 50 day moving average is $7.24 and its 200-day moving average is $5.94.

SoundHound AI (NASDAQ:SOUNW) last released its earnings results on Thursday, May 9th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $6.71 million for the quarter.

Institutional Trading of SoundHound AI

An institutional investor recently raised its position in SoundHound AI stock. Wolverine Asset Management LLC boosted its holdings in SoundHound AI, Inc. (NASDAQ:SOUNW) by 30.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,399 shares of the company’s stock after buying an additional 4,034 shares during the period. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $125,000 as of its most recent SEC filing.

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.