Auddia Inc. (NASDAQ:AUUD) Short Interest Up 242.1% in May

Auddia Inc. (NASDAQ:AUUD) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 463,073 shares, a growth of 242.1% from the May 14th total of 135,351 shares. Based on an average daily trading volume, of 5,008,597 shares, the days-to-cover ratio is currently 0.1 days. Currently, 8.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Auddia

An institutional investor recently bought a new position in Auddia stock. Virtu Financial LLC purchased a new stake in Auddia Inc. (NASDAQ:AUUD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,316 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned approximately 1.33% of Auddia as of its most recent filing with the Securities & Exchange Commission.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Auddia from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Auddia Trading Down 3.6%

Shares of NASDAQ AUUD traded down $0.05 during mid-day trading on Friday, hitting $1.32. The company had a trading volume of 353,588 shares, compared to its average volume of 10,375,526. The company has a market capitalization of $7.08 million, a price-to-earnings ratio of -0.03 and a beta of 0.62. Auddia has a 1 year low of $1.16 and a 1 year high of $56.13. The stock’s 50-day moving average price is $2.44 and its 200-day moving average price is $5.50.

Auddia (NASDAQ:AUUD) last announced its quarterly earnings results on Friday, May 15th. The company reported ($5.09) earnings per share for the quarter, missing the consensus estimate of ($5.00) by ($0.09).

Auddia Company Profile

Auddia Inc (NASDAQ: AUUD) develops and markets patented audio solutions that transform how live and recorded content is distributed and accessed. Through its subsidiaries AudioFetch and Podscribe, the company offers plug-and-play hardware and software for venues such as restaurants, fitness centers, and corporate waiting areas to stream live radio and other audio channels directly to patrons’ smartphones. In parallel, Auddia’s automated speech-to-text technology powers real-time closed captioning for live radio broadcasts and on-demand transcription services for podcast publishers.

The AudioFetch platform, integrated into venue networks, captures local audio feeds and delivers them via a branded mobile app or web portal.