Short Interest in Auddia Inc. (NASDAQ:AUUD) Drops By 43.8%

Auddia Inc. (NASDAQ:AUUD) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 237,511 shares, a decrease of 43.8% from the June 15th total of 422,737 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 323,943 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Auddia

An institutional investor recently bought a new position in Auddia stock. Geode Capital Management LLC bought a new position in Auddia Inc. (NASDAQ:AUUD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,538 shares of the company’s stock, valued at approximately $26,000. Geode Capital Management LLC owned 0.86% of Auddia as of its most recent filing with the Securities and Exchange Commission.

Auddia Stock Performance

AUUD stock traded down $0.01 during trading on Friday, hitting $1.33. The stock had a trading volume of 26,378 shares, compared to its average volume of 2,484,824. The company’s 50 day moving average price is $1.39 and its two-hundred day moving average price is $4.34. Auddia has a 1-year low of $1.16 and a 1-year high of $48.36. The stock has a market cap of $7.74 million, a price-to-earnings ratio of -0.03 and a beta of 0.46.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Auddia from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Auddia presently has a consensus rating of “Sell”.

About Auddia

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.