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

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

Algorhythm Price Performance

RIME stock traded down $0.02 during trading on Thursday, hitting $0.99. The company had a trading volume of 401,943 shares, compared to its average volume of 2,958,651. The business has a 50 day moving average of $1.47 and a 200 day moving average of $2.02. The firm has a market capitalization of $2.68 million, a price-to-earnings ratio of -0.17 and a beta of -0.22. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.50. Algorhythm has a fifty-two week low of $0.73 and a fifty-two week high of $9.18.

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

Analysts Set New Price Targets

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

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.