Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Up 34.2% in December

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 213,407 shares, an increase of 34.2% from the November 30th total of 159,032 shares. Currently, 7.9% of the shares of the stock are sold short. Based on an average daily volume of 320,990 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 320,990 shares, the short-interest ratio is presently 0.7 days. Currently, 7.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Algorhythm Price Performance

Shares of RIME stock traded up $0.01 during trading on Tuesday, hitting $1.01. The company had a trading volume of 61,305 shares, compared to its average volume of 297,399. Algorhythm has a one year low of $0.94 and a one year high of $67.72. The stock’s 50-day moving average price is $1.73 and its 200 day moving average price is $2.15. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $2.75 million, a P/E ratio of -0.18 and a beta of -0.20.

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

About Algorhythm

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.