Algorhythm (NASDAQ:RIME) Trading Down 10% – Time to Sell?

Algorhythm Holdings, Inc. (NASDAQ:RIME) shares were down 10% during trading on Thursday . The stock traded as low as $1.33 and last traded at $1.35. Approximately 475,315 shares were traded during trading, a decline of 90% from the average daily volume of 4,721,629 shares. The stock had previously closed at $1.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RIME shares. Zacks Research upgraded Algorhythm to a “hold” rating in a research note on Tuesday, January 27th. Wall Street Zen raised Algorhythm to a “sell” rating in a research report on Saturday, February 14th. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.00.

Algorhythm Trading Down 5.6%

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 stock’s 50-day moving average is $1.44 and its two-hundred day moving average is $1.73. The company has a market cap of $3.47 million, a P/E ratio of -0.23 and a beta of -0.38.

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.