PodcastOne (NASDAQ:PODC) Issues Earnings Results

PodcastOne (NASDAQ:PODC) posted its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. The business had revenue of $15.41 million for the quarter, compared to the consensus estimate of $17.28 million.

PodcastOne Price Performance

PodcastOne stock traded up $0.23 during trading hours on Thursday, reaching $2.38. The stock had a trading volume of 178,051 shares, compared to its average volume of 133,767. PodcastOne has a 52 week low of $1.41 and a 52 week high of $5.20. The company has a market cap of $72.00 million, a price-to-earnings ratio of -20.11 and a beta of 2.14. The business’s 50 day moving average price is $2.17 and its 200-day moving average price is $2.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings lowered shares of PodcastOne from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Finally, Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Insider Activity

In other news, Director D Merriman acquired 17,000 shares of PodcastOne stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $3.20 per share, for a total transaction of $54,400.00. Following the purchase, the director directly owned 326,732 shares in the company, valued at $1,045,542.40. The trade was a 5.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 81,100 shares of company stock valued at $212,293. 7.80% of the stock is owned by insiders.

About PodcastOne

PodcastOne, Inc. operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers. The company’s programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.