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. Based on an average daily trading volume, of 55,200 shares, the short-interest ratio is presently 1.3 days. Currently, 1.3% of the company’s stock are sold short.

Hedge Funds Weigh In On PodcastOne

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of PodcastOne in the fourth quarter valued at approximately $26,000. Apollon Wealth Management LLC purchased a new position in shares of PodcastOne during the fourth quarter worth $54,000. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 14,688 shares during the period. Finally, Fleming James B JR purchased a new position in PodcastOne in the fourth quarter valued at $189,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

PodcastOne Stock Up 0.5 %

PodcastOne stock traded up $0.01 during trading hours on Friday, hitting $1.97. 31,376 shares of the stock traded hands, compared to its average volume of 39,519. The firm’s 50 day moving average price is $2.28 and its 200-day moving average price is $1.82. PodcastOne has a 1 year low of $1.10 and a 1 year 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 for the quarter, beating the consensus estimate of ($0.07) by $0.01. PodcastOne had a negative return on equity of 42.22% and a negative net margin of 14.08%. Equities analysts anticipate that PodcastOne will post -0.21 EPS for the current 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.