PodcastOne (NASDAQ:PODC) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of PodcastOne, Inc. (NASDAQ:PODC) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $2.16 and traded as high as $2.43. PodcastOne shares last traded at $2.18, with a volume of 223,718 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PODC shares. Weiss Ratings lowered shares of PodcastOne from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Wall Street Zen lowered shares of PodcastOne from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

PodcastOne Trading Up 1.4%

The company has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $2.96. The stock has a market cap of $65.95 million, a price-to-earnings ratio of -18.17 and a beta of 2.14.

PodcastOne (NASDAQ:PODC) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $15.41 million for the quarter, compared to analyst estimates of $17.28 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. Equities analysts forecast that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director D Merriman bought 15,700 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average price of $2.75 per share, with a total value of $43,175.00. Following the transaction, the director owned 353,732 shares in the company, valued at $972,763. This represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 64,100 shares of company stock worth $157,893 in the last ninety days. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PodcastOne

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in PodcastOne during the 2nd quarter worth approximately $280,000. NewEdge Advisors LLC grew its stake in shares of PodcastOne by 168.2% during the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after acquiring an additional 55,473 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of PodcastOne by 344.3% in the third quarter. International Assets Investment Management LLC now owns 43,100 shares of the company’s stock valued at $100,000 after purchasing an additional 33,400 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of PodcastOne in the first quarter valued at approximately $30,000. Finally, Permanens Capital L.P. acquired a new stake in shares of PodcastOne in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

About PodcastOne

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.