Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Rises By 40.1%

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 51,400 shares, a growth of 40.1% from the June 15th total of 36,700 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 35,900 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

Separately, Litchfield Hills Research initiated coverage on shares of PodcastOne in a research note on Thursday, June 6th. They set a “buy” rating and a $5.00 price target on the stock.

PodcastOne Stock Up 1.9 %

Shares of PodcastOne stock traded up $0.03 during trading on Monday, reaching $1.60. The company’s stock had a trading volume of 24,192 shares, compared to its average volume of 47,760. The business has a 50 day moving average price of $1.72 and a 200-day moving average price of $1.86. PodcastOne has a 12-month low of $1.20 and a 12-month high of $5.80.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Thursday, May 30th. The company reported ($0.05) EPS for the quarter, hitting 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 company had revenue of $11.71 million for the quarter. On average, sell-side analysts predict that PodcastOne will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director D Jonathan Merriman acquired 22,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $1.95 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the director now directly owns 50,839 shares of the company’s stock, valued at approximately $99,136.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 76,539 shares of company stock worth $142,726 in the last ninety days.

About PodcastOne

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.