PodcastOne, Inc. (NASDAQ:PODC) Sees Large Increase in Short Interest

PodcastOne, Inc. (NASDAQ:PODC) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 98,300 shares, an increase of 24.6% from the December 31st total of 78,900 shares. Based on an average daily volume of 52,900 shares, the short-interest ratio is presently 1.9 days. Currently, 1.7% of the company’s shares are sold short.

PodcastOne Stock Performance

PodcastOne stock traded down $0.01 during trading hours on Monday, hitting $2.33. The company had a trading volume of 64,502 shares, compared to its average volume of 42,800. The company has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $1.78. The firm has a market cap of $58.02 million, a P/E ratio of -8.03 and a beta of -0.80. PodcastOne has a 1 year low of $1.10 and a 1 year high of $2.85.

PodcastOne (NASDAQ:PODC) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). PodcastOne had a negative net margin of 14.08% and a negative return on equity of 42.22%. The business had revenue of $12.15 million for the quarter, compared to the consensus estimate of $13.30 million. During the same period in the prior year, the firm earned ($0.52) EPS. As a group, equities research analysts anticipate that PodcastOne will post -0.21 EPS for the current year.

Hedge Funds Weigh In On PodcastOne

An institutional investor recently raised its position in PodcastOne stock. International Assets Investment Management LLC boosted its position in PodcastOne, Inc. (NASDAQ:PODC) by 92.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,600 shares of the company’s stock after acquiring an additional 14,688 shares during the quarter. International Assets Investment Management LLC owned 0.12% of PodcastOne worth $64,000 at the end of the most recent quarter. 2.87% of the stock is currently owned by institutional investors and hedge funds.

About PodcastOne

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.