Algorhythm (NASDAQ:RIME) Raised to Hold at Zacks Research

Algorhythm (NASDAQ:RIME) was upgraded by stock analysts at Zacks Research to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

Algorhythm Trading Down 5.5%

NASDAQ RIME traded down $0.05 during trading hours on Tuesday, hitting $0.88. 250,976 shares of the company’s stock were exchanged, compared to its average volume of 2,024,305. The firm has a market cap of $2.39 million, a price-to-earnings ratio of -0.16 and a beta of -0.22. The stock has a 50-day simple moving average of $1.25 and a 200 day simple moving average of $1.91. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.50. Algorhythm has a 1-year low of $0.73 and a 1-year high of $6.44.

Algorhythm (NASDAQ:RIME) last released its quarterly earnings data on Wednesday, November 19th. The company reported ($0.72) EPS for the quarter. The firm had revenue of $1.74 million for the quarter.

Algorhythm Company Profile

Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.