Auddia Inc. (NASDAQ:AUUD) Sees Large Growth in Short Interest

Auddia Inc. (NASDAQ:AUUD) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 463,073 shares, a growth of 242.1% from the May 14th total of 135,351 shares. Currently, 8.8% of the company’s stock are short sold. Based on an average daily volume of 5,008,597 shares, the days-to-cover ratio is currently 0.1 days.

Auddia Stock Up 7.1%

Shares of NASDAQ:AUUD traded up $0.09 during trading on Thursday, reaching $1.38. 576,330 shares of the company traded hands, compared to its average volume of 2,955,963. The company’s 50 day moving average is $2.58 and its two-hundred day moving average is $5.57. The firm has a market capitalization of $7.41 million, a PE ratio of -0.03 and a beta of 0.62. Auddia has a 52 week low of $1.16 and a 52 week high of $56.13.

Auddia (NASDAQ:AUUD) last released its earnings results on Friday, May 15th. The company reported ($5.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($5.00) by ($0.09).

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Auddia from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Auddia

An institutional investor recently bought a new position in Auddia stock. Geode Capital Management LLC purchased a new position in Auddia Inc. (NASDAQ:AUUD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 26,538 shares of the company’s stock, valued at approximately $26,000. Geode Capital Management LLC owned 0.86% of Auddia as of its most recent filing with the Securities and Exchange Commission.

About Auddia

Auddia Inc (NASDAQ: AUUD) develops and markets patented audio solutions that transform how live and recorded content is distributed and accessed. Through its subsidiaries AudioFetch and Podscribe, the company offers plug-and-play hardware and software for venues such as restaurants, fitness centers, and corporate waiting areas to stream live radio and other audio channels directly to patrons’ smartphones. In parallel, Auddia’s automated speech-to-text technology powers real-time closed captioning for live radio broadcasts and on-demand transcription services for podcast publishers.

The AudioFetch platform, integrated into venue networks, captures local audio feeds and delivers them via a branded mobile app or web portal.