Algorhythm (NASDAQ:RIME) Upgraded by Zacks Research to Hold Rating

Algorhythm (NASDAQ:RIME) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated 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, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Algorhythm Stock Down 1.9%

Shares of NASDAQ RIME opened at $0.93 on Tuesday. The firm has a market cap of $2.53 million, a price-to-earnings ratio of -0.17 and a beta of -0.22. The company’s 50-day simple moving average is $1.25 and its 200-day simple moving average is $1.91. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 2.50. Algorhythm has a 52-week low of $0.73 and a 52-week high of $6.44.

Algorhythm (NASDAQ:RIME) last issued its quarterly 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 for 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.