PodcastOne (NASDAQ:PODC) Posts Earnings Results, Beats Expectations By $0.01 EPS

PodcastOne (NASDAQ:PODC) issued its quarterly earnings data on Tuesday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01, Zacks reports. PodcastOne had a negative net margin of 10.86% and a negative return on equity of 38.84%.

PodcastOne Stock Performance

Shares of PODC traded up $0.01 during mid-day trading on Tuesday, reaching $2.25. The company had a trading volume of 102,955 shares, compared to its average volume of 50,664. The company has a market capitalization of $59.42 million, a price-to-earnings ratio of -9.78 and a beta of -0.07. The firm has a 50-day moving average price of $1.84 and a 200 day moving average price of $1.89. PodcastOne has a 52 week low of $1.28 and a 52 week high of $2.94.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PodcastOne in a research note on Friday, October 31st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PodcastOne presently has an average rating of “Sell”.

Institutional Investors Weigh In On PodcastOne

A hedge fund recently bought a new stake in PodcastOne stock. Creative Planning acquired a new stake in shares of PodcastOne, Inc. (NASDAQ:PODC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,128 shares of the company’s stock, valued at approximately $49,000. Creative Planning owned approximately 0.08% of PodcastOne as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 2.87% of the company’s stock.

About PodcastOne

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.