SoundHound AI, Inc. (NASDAQ:SOUN) shares are trading higher Wednesday after DA Davidson initiated coverage on the stock with a Buy rating and $5 price target.
The Details:
SoundHound AI shares are up nearly 20% after DA Davidson analyst Gil Luria initiated coverage on SoundHound AI with a Buy rating and announced a price target of $5.
SOUN shares are up on heavy trading volume with more than 7.5 million shares already traded in the session, compared to the stock’s 100-day average volume of 16.475 million shares.
According to data from Benzinga Pro, the stock has significant short interest with 16.16% of available shares being sold short.
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SOUN Price Action: According to Benzinga Pro, shares are up 18.8% at $1.90 at the time of publication.
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