PodcastOne, Inc. (NASDAQ:PODC) Sees Significant Decline in Short Interest

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 73,300 shares, a decrease of 25.4% from the January 15th total of 98,300 shares. Based on an average daily trading volume, of 55,200 shares, the short-interest ratio is currently 1.3 days. Approximately 1.3% of the company's stock are sold short.

PodcastOne Stock Performance

Shares of NASDAQ PODC remained flat at $1.97 during mid-day trading on Tuesday. 8,527 shares of the stock were exchanged, compared to its average volume of 38,740. The business has a fifty day moving average of $2.26 and a 200-day moving average of $1.83. The company has a market capitalization of $49.05 million, a PE ratio of -6.79 and a beta of -0.80. PodcastOne has a 52-week low of $1.10 and a 52-week high of $2.85.

PodcastOne (NASDAQ:PODC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. PodcastOne had a negative net margin of 14.08% and a negative return on equity of 42.22%. As a group, sell-side analysts anticipate that PodcastOne will post -0.21 EPS for the current year.

Hedge Funds Weigh In On PodcastOne

A number of hedge funds have recently bought and sold shares of the company. Fleming James B JR purchased a new stake in shares of PodcastOne in the fourth quarter valued at about $189,000. International Assets Investment Management LLC increased its stake in PodcastOne by 92.3% in the 4th quarter. International Assets Investment Management LLC now owns 30,600 shares of the company's stock valued at $64,000 after buying an additional 14,688 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of PodcastOne during the 4th quarter worth approximately $54,000. Citadel Advisors LLC purchased a new position in shares of PodcastOne in the 4th quarter worth approximately $52,000. Finally, Renaissance Technologies LLC bought a new position in shares of PodcastOne in the fourth quarter valued at approximately $26,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

PodcastOne Company Profile

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.