Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Expands By 31.1%

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 36,700 shares, a growth of 31.1% from the May 31st total of 28,000 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 36,800 shares, the days-to-cover ratio is currently 1.0 days.

Insider Activity at PodcastOne

In related news, Director D Jonathan Merriman bought 18,000 shares of the stock in a transaction on Friday, June 7th. The stock was bought at an average price of $1.86 per share, with a total value of $33,480.00. Following the completion of the purchase, the director now directly owns 88,839 shares in the company, valued at approximately $165,240.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders bought 76,539 shares of company stock valued at $142,726.

Wall Street Analysts Forecast Growth

Separately, Litchfield Hills Research began coverage on shares of PodcastOne in a research note on Thursday, June 6th. They issued a “buy” rating and a $5.00 price objective for the company.

PodcastOne Stock Down 1.8 %

NASDAQ:PODC traded down $0.03 during mid-day trading on Monday, hitting $1.65. The stock had a trading volume of 19,499 shares, compared to its average volume of 49,358. The stock has a 50-day simple moving average of $1.83 and a two-hundred day simple moving average of $1.87. PodcastOne has a twelve month low of $1.37 and a twelve month high of $5.80.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Thursday, May 30th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). PodcastOne had a negative net margin of 34.02% and a negative return on equity of 108.47%. The firm had revenue of $11.71 million for the quarter. As a group, equities research analysts predict that PodcastOne will post -0.22 earnings per share for the current fiscal year.

PodcastOne Company Profile

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.