PodcastOne (NASDAQ:PODC) Issues Earnings Results, Beats Estimates By $0.01 EPS

PodcastOne (NASDAQ:PODC) announced its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, Zacks reports. PodcastOne had a negative return on equity of 34.68% and a negative net margin of 9.07%.

PodcastOne Price Performance

PodcastOne stock traded down $0.29 during mid-day trading on Thursday, reaching $2.71. 872,096 shares of the stock traded hands, compared to its average volume of 188,070. PodcastOne has a 12-month low of $1.28 and a 12-month high of $3.35. The business’s 50-day moving average is $2.47 and its 200-day moving average is $2.07. The stock has a market capitalization of $72.85 million, a PE ratio of -13.17 and a beta of -0.11.

Hedge Funds Weigh In On PodcastOne

An institutional investor recently bought a new position in PodcastOne stock. Creative Planning acquired a new stake in shares of PodcastOne, Inc. (NASDAQ:PODC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,128 shares of the company’s stock, valued at approximately $49,000. Creative Planning owned 0.08% of PodcastOne at the end of the most recent quarter. 2.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, December 29th. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

PodcastOne Company Profile

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.