Short Interest in Algorhythm Holdings, Inc. (NASDAQ:RIME) Rises By 363.2%
by Tristan Rich · The Markets DailyAlgorhythm Holdings, Inc. (NASDAQ:RIME – Get Free Report) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 1,872,458 shares, an increase of 363.2% from the January 29th total of 404,242 shares. Currently, 69.5% of the company’s stock are short sold. Based on an average daily volume of 22,224,909 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 22,224,909 shares, the days-to-cover ratio is presently 0.1 days. Currently, 69.5% of the company’s stock are short sold.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on RIME shares. Zacks Research upgraded shares of Algorhythm to a “hold” rating in a report on Tuesday, January 27th. Wall Street Zen raised Algorhythm to a “sell” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.00.
Check Out Our Latest Research Report on RIME
Algorhythm Price Performance
NASDAQ RIME opened at $1.76 on Friday. The stock has a market capitalization of $4.79 million, a price-to-earnings ratio of -0.31 and a beta of -0.17. Algorhythm has a 1-year low of $0.73 and a 1-year high of $4.58. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.53 and a quick ratio of 0.53. The business’s fifty day moving average price is $1.30 and its 200-day moving average price is $1.79.
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.