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

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 74,999 shares, a drop of 64.9% from the December 15th total of 213,407 shares. Based on an average daily trading volume, of 95,723 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.8% of the company’s shares are sold short. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 95,723 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analyst Weigh In

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

Algorhythm Trading Up 2.4%

RIME traded up $0.02 during midday trading on Wednesday, reaching $1.00. 9,722,276 shares of the company’s stock traded hands, compared to its average volume of 3,212,778. The stock has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.18 and a beta of -0.22. Algorhythm has a 52 week low of $0.73 and a 52 week high of $11.54. The firm has a fifty day moving average of $1.49 and a two-hundred day moving average of $2.02. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.53 and a quick ratio of 0.53.

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

About Algorhythm

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.