Auddia Inc. (NASDAQ:AUUD) Sees Large Growth in Short Interest

Auddia Inc. (NASDAQ:AUUD) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 463,073 shares, an increase of 242.1% from the May 14th total of 135,351 shares. Based on an average daily volume of 5,008,597 shares, the days-to-cover ratio is currently 0.1 days. Currently, 8.8% of the company’s shares are short sold.

Auddia Trading Up 7.1%

NASDAQ AUUD traded up $0.09 during trading hours on Thursday, hitting $1.38. 576,330 shares of the company’s stock were exchanged, compared to its average volume of 2,955,963. The stock has a 50-day simple moving average of $2.58 and a 200 day simple moving average of $5.57. Auddia has a 1-year low of $1.16 and a 1-year high of $56.13. The firm has a market cap of $7.41 million, a price-to-earnings ratio of -0.03 and a beta of 0.62.

Auddia (NASDAQ:AUUD) last released its earnings results on Friday, May 15th. The company reported ($5.09) EPS for the quarter, missing the consensus estimate of ($5.00) by ($0.09).

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Auddia from a “sell (e+)” rating to a “sell (e)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Auddia presently has an average rating of “Sell”.

Institutional Investors Weigh In On Auddia

A hedge fund recently bought a new stake in Auddia stock. Geode Capital Management LLC acquired a new stake in Auddia Inc. (NASDAQ:AUUD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,538 shares of the company’s stock, valued at approximately $26,000. Geode Capital Management LLC owned 0.86% of Auddia as of its most recent filing with the Securities & Exchange Commission.

About Auddia

Auddia Inc (NASDAQ: AUUD) develops and markets patented audio solutions that transform how live and recorded content is distributed and accessed. Through its subsidiaries AudioFetch and Podscribe, the company offers plug-and-play hardware and software for venues such as restaurants, fitness centers, and corporate waiting areas to stream live radio and other audio channels directly to patrons’ smartphones. In parallel, Auddia’s automated speech-to-text technology powers real-time closed captioning for live radio broadcasts and on-demand transcription services for podcast publishers.

The AudioFetch platform, integrated into venue networks, captures local audio feeds and delivers them via a branded mobile app or web portal.