Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Update

Algorhythm Holdings, Inc. (NASDAQ:RIME) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 649,460 shares, a growth of 766.0% from the December 31st total of 74,999 shares. Based on an average daily volume of 2,884,169 shares, the short-interest ratio is currently 0.2 days. Approximately 24.1% of the company’s stock are short sold. Approximately 24.1% of the company’s stock are short sold. Based on an average daily volume of 2,884,169 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Algorhythm presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Algorhythm Stock Down 2.2%

Shares of RIME traded down $0.02 during trading hours on Wednesday, hitting $0.93. 18,335 shares of the company were exchanged, compared to its average volume of 2,113,829. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $2.52 million, a PE ratio of -0.17 and a beta of -0.22. The firm’s 50 day moving average is $1.26 and its 200-day moving average is $1.92. Algorhythm has a 52 week low of $0.73 and a 52 week high of $6.44.

Algorhythm (NASDAQ:RIME) last posted its earnings results on Wednesday, November 19th. The company reported ($0.72) earnings per share for the quarter. The company had revenue of $1.74 million during the quarter.

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.