PodcastOne, Inc. (NASDAQ:PODC) Short Interest Update

PodcastOne, Inc. (NASDAQ:PODC) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 82,006 shares, a decline of 32.2% from the March 31st total of 120,926 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 27,796 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Institutional Trading of PodcastOne

Several institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC lifted its position in shares of PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after purchasing an additional 30,541 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of PodcastOne during the fourth quarter worth $81,000. Finally, Creative Planning bought a new stake in shares of PodcastOne during the second quarter worth $49,000. 2.87% of the stock is currently owned by institutional investors.

PodcastOne Stock Performance

NASDAQ PODC traded up $0.42 on Thursday, hitting $3.41. 344,927 shares of the stock were exchanged, compared to its average volume of 117,580. The stock has a fifty day moving average price of $2.41 and a two-hundred day moving average price of $2.38. The firm has a market capitalization of $93.73 million, a P/E ratio of -22.73 and a beta of 0.48. PodcastOne has a 52-week low of $1.30 and a 52-week high of $3.52.

PodcastOne (NASDAQ:PODC) last released its earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%.The business had revenue of $15.86 million during the quarter, compared to the consensus estimate of $15.03 million. Sell-side analysts expect that PodcastOne will post -0.11 earnings per share for the current fiscal year.

About PodcastOne

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.