Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Update

Algorhythm Holdings, Inc. (NASDAQ:RIME) saw a significant increase in short interest in December. As of December 15th, there was short interest totaling 213,407 shares, an increase of 34.2% from the November 30th total of 159,032 shares. Currently, 7.9% of the shares of the company are sold short. Based on an average trading volume of 320,990 shares, the short-interest ratio is currently 0.7 days. Based on an average trading volume of 320,990 shares, the short-interest ratio is currently 0.7 days. Currently, 7.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Algorhythm in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Algorhythm Trading Up 1.0%

Shares of RIME stock traded up $0.01 during trading hours on Tuesday, reaching $1.01. The company’s stock had a trading volume of 61,305 shares, compared to its average volume of 297,399. Algorhythm has a one year low of $0.94 and a one year high of $67.72. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.50. The firm’s fifty day simple moving average is $1.73 and its 200 day simple moving average is $2.15. The stock has a market capitalization of $2.75 million, a P/E ratio of -0.18 and a beta of -0.20.

Algorhythm (NASDAQ:RIME) last released its earnings results on Wednesday, November 19th. The company reported ($0.72) earnings per share for the quarter. The firm had revenue of $1.74 million for the quarter.

Algorhythm Company Profile

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.