Algorhythm (NASDAQ:RIME – Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.11, Zacks reports. The business had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.00 million.
Algorhythm Price Performance
Shares of NASDAQ RIME opened at $0.38 on Friday. Algorhythm has a 1-year low of $0.35 and a 1-year high of $4.58. The business’s fifty day moving average price is $0.53 and its two-hundred day moving average price is $0.97. The firm has a market capitalization of $5.79 million, a PE ratio of -0.25 and a beta of -0.23.
Wall Street Analyst Weigh In
RIME has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Algorhythm from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.
Algorhythm Company Profile
Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.
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