PodcastOne (NASDAQ:PODC) Issues Earnings Results

PodcastOne (NASDAQ:PODC) released its quarterly earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01, Zacks reports. PodcastOne had a negative net margin of 10.86% and a negative return on equity of 38.84%.

PodcastOne Stock Up 0.4%

NASDAQ:PODC traded up $0.01 during trading hours on Tuesday, hitting $2.25. 101,682 shares of the stock traded hands, compared to its average volume of 50,624. The company has a market cap of $59.42 million, a price-to-earnings ratio of -9.78 and a beta of -0.07. PodcastOne has a 1 year low of $1.28 and a 1 year high of $2.94. The stock has a 50 day moving average price of $1.84 and a 200 day moving average price of $1.89.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PodcastOne stock. Creative Planning purchased a new position in PodcastOne, Inc. (NASDAQ:PODC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,128 shares of the company’s stock, valued at approximately $49,000. Creative Planning owned approximately 0.08% of PodcastOne as of its most recent filing with the Securities and Exchange Commission. 2.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PodcastOne in a research note on Friday, October 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.