Algorhythm (NASDAQ:RIME) Trading Down 11.4% – What’s Next?

Shares of Algorhythm Holdings, Inc. (NASDAQ:RIME) fell 11.4% during trading on Friday . The stock traded as low as $0.2124 and last traded at $0.2150. Approximately 1,499,897 shares changed hands during trading, a decline of 23% from the average session volume of 1,959,479 shares. The stock had previously closed at $0.2426.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Algorhythm from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Algorhythm in a research report on Monday, August 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Algorhythm Price Performance

The stock has a market capitalization of $3.65 million, a P/E ratio of -0.14 and a beta of -0.25. The stock’s fifty day moving average is $0.42 and its 200-day moving average is $0.89.

Algorhythm (NASDAQ:RIME) last posted its earnings results on Friday, August 14th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.11. Algorhythm had a negative net margin of 176.39% and a negative return on equity of 1,310.33%. The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $3.00 million.

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.