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

PodcastOne, Inc. (NASDAQ:PODC) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 103,035 shares, a decrease of 47.4% from the February 12th total of 195,893 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 102,678 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 102,678 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.8% of the company’s stock are sold short.

Institutional Trading of PodcastOne

Several hedge funds and other institutional investors have recently bought and sold shares of PODC. Thompson Davis & CO. Inc. acquired a new position in shares of PodcastOne during the 2nd quarter worth approximately $38,000. Creative Planning acquired a new stake in shares of PodcastOne in the second quarter valued at approximately $49,000. Citadel Advisors LLC boosted its stake in shares of PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after buying an additional 30,541 shares during the period. NewEdge Advisors LLC bought a new stake in shares of PodcastOne in the fourth quarter valued at approximately $81,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in PodcastOne during the second quarter worth approximately $316,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

PodcastOne Price Performance

PODC traded up $0.07 during trading on Friday, hitting $2.29. The stock had a trading volume of 26,095 shares, compared to its average volume of 101,034. The company has a 50 day moving average price of $2.59 and a 200-day moving average price of $2.21. PodcastOne has a one year low of $1.28 and a one year high of $3.35. The firm has a market cap of $62.20 million, a price-to-earnings ratio of -15.27 and a beta of 0.01.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data 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. The firm had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $15.03 million. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%. As a group, sell-side analysts predict that PodcastOne will post -0.24 EPS for the current fiscal year.

PodcastOne Company Profile

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.