PodcastOne (NASDAQ:PODC) Issues Quarterly Earnings Results

PodcastOne (NASDAQ:PODC) announced its earnings results on Thursday. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01, Zacks reports. The company had revenue of $15.41 million during the quarter, compared to analysts’ expectations of $17.28 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%.

PodcastOne Stock Up 12.1%

Shares of NASDAQ:PODC traded up $0.26 during midday trading on Thursday, reaching $2.41. The company had a trading volume of 184,972 shares, compared to its average volume of 133,852. The stock has a market cap of $72.90 million, a PE ratio of -20.08 and a beta of 2.14. PodcastOne has a 1-year low of $1.41 and a 1-year high of $5.20. The business’s 50 day moving average price is $2.17 and its 200 day moving average price is $2.96.

Insiders Place Their Bets

In other PodcastOne news, Director D Merriman purchased 15,700 shares of the business’s stock in a transaction on Friday, August 21st. The stock was acquired at an average price of $2.75 per share, with a total value of $43,175.00. Following the acquisition, the director directly owned 353,732 shares of the company’s stock, valued at $972,763. This trade represents a 4.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders acquired 81,100 shares of company stock valued at $212,293. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings lowered shares of PodcastOne from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Finally, Zacks Research raised PodcastOne from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. One analyst has rated the stock with a Hold 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 “Reduce”.

PodcastOne Company Profile

PodcastOne, Inc. operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers. The company’s programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.