SoundHound AI (NASDAQ:SOUNW) Trading Up 3.8% – Still a Buy?

SoundHound AI, Inc. (NASDAQ:SOUNW)’s share price traded up 3.8% during trading on Monday . The company traded as high as $3.25 and last traded at $3.02. 35,276 shares were traded during mid-day trading, an increase of 10% from the average session volume of 32,208 shares. The stock had previously closed at $2.91.

SoundHound AI Stock Up 3.8%

The stock has a 50 day moving average price of $4.29 and a two-hundred day moving average price of $5.81.

Hedge Funds Weigh In On SoundHound AI

An institutional investor recently raised its position in SoundHound AI stock. Wolverine Asset Management LLC increased its stake in shares of SoundHound AI, Inc. (NASDAQ:SOUNW) by 175.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 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.