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

PodcastOne, Inc. (NASDAQ:PODC) saw a large decrease in short interest in 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. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 55,200 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On PodcastOne

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in shares of PodcastOne during the fourth quarter worth approximately $26,000. International Assets Investment Management LLC increased its position in shares of PodcastOne by 92.3% during the fourth quarter. International Assets Investment Management LLC now owns 30,600 shares of the company’s stock worth $64,000 after acquiring an additional 14,688 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in shares of PodcastOne during the fourth quarter worth $54,000. Finally, Fleming James B JR acquired a new stake in PodcastOne in the fourth quarter valued at $189,000. 2.87% of the stock is owned by institutional investors.

PodcastOne Stock Up 0.5 %

Shares of PodcastOne stock traded up $0.01 during midday trading on Friday, reaching $1.97. 31,376 shares of the company’s stock traded hands, compared to its average volume of 39,519. The company’s 50 day simple moving average is $2.28 and its 200 day simple moving average is $1.82. PodcastOne has a 52 week low of $1.10 and a 52 week high of $2.85.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that PodcastOne will post -0.21 earnings per share for the current fiscal year.

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.