SoundHound AI (NASDAQ:SOUNW) Stock Price Down 6.8% – Time to Sell?

SoundHound AI, Inc. (NASDAQ:SOUNW) traded down 6.8% during trading on Thursday . The company traded as low as $7.51 and last traded at $7.54. 24,727 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 93,531 shares. The stock had previously closed at $8.09.

SoundHound AI Price Performance

The business has a 50 day moving average of $7.42 and a 200 day moving average of $5.67.

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

Hedge Funds Weigh In On SoundHound AI

An institutional investor recently raised its position in SoundHound AI stock. Wolverine Asset Management LLC lifted its stake in SoundHound AI, Inc. (NASDAQ:SOUNW) by 175.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,365 shares of the company’s stock after buying an additional 8,519 shares during the period. Wolverine Asset Management LLC’s holdings in SoundHound AI were worth $60,000 at the end of the most recent reporting period.

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.