Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Down 46.1% in March
by Renee Jackson · The Cerbat GemAlgorhythm Holdings, Inc. (NASDAQ:RIME – Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 833,801 shares, a decline of 46.1% from the March 15th total of 1,546,109 shares. Based on an average daily volume of 672,535 shares, the short-interest ratio is presently 1.2 days. Approximately 30.9% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Several research firms recently issued reports on RIME. Wall Street Zen upgraded Algorhythm to a “sell” rating in a research report on Saturday, February 14th. Zacks Research upgraded shares of Algorhythm to a “hold” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Algorhythm presently has an average rating of “Hold” and an average price target of $5.00.
Read Our Latest Report on Algorhythm
Algorhythm Trading Up 1.9%
RIME stock traded up $0.02 on Monday, reaching $1.08. The company’s stock had a trading volume of 712,735 shares, compared to its average volume of 6,892,800. The firm has a market cap of $15.82 million, a PE ratio of -0.19 and a beta of -0.18. The business has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $1.61. Algorhythm has a 12-month low of $0.73 and a 12-month high of $4.58. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.55 and a current ratio of 0.55.
About Algorhythm
Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.