PodcastOne, Inc. (NASDAQ:PODC) Short Interest Down 25.4% in January

PodcastOne, Inc. (NASDAQ:PODC) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 73,300 shares, a decline of 25.4% from the January 15th total of 98,300 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average trading volume of 55,200 shares, the days-to-cover ratio is currently 1.3 days.

PodcastOne Price Performance

Shares of PodcastOne stock traded up $0.07 during midday trading on Friday, reaching $2.03. The company had a trading volume of 9,390 shares, compared to its average volume of 39,016. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $1.82. The firm has a market cap of $50.65 million, a PE ratio of -7.01 and a beta of -0.80. PodcastOne has a fifty-two week low of $1.10 and a fifty-two week high of $2.85.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. PodcastOne had a negative return on equity of 42.22% and a negative net margin of 14.08%. As a group, sell-side analysts forecast that PodcastOne will post -0.21 EPS for the current year.

Hedge Funds Weigh In On PodcastOne

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in PodcastOne in the fourth quarter valued at approximately $26,000. Apollon Wealth Management LLC acquired a new position in PodcastOne in the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC lifted its stake in PodcastOne by 92.3% in the fourth 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 period. Finally, Fleming James B JR acquired a new position in PodcastOne in the fourth quarter valued at approximately $189,000. 2.87% of the stock is owned by institutional investors and hedge funds.

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.