Algorhythm (NASDAQ:RIME) Trading Down 2% – Should You Sell?

Algorhythm Holdings, Inc. (NASDAQ:RIME)’s stock price traded down 2% during trading on Friday . The stock traded as low as $1.86 and last traded at $1.94. 47,134 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 283,645 shares. The stock had previously closed at $1.98.

Analysts Set New Price Targets

RIME has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, October 8th. Wall Street Zen cut Algorhythm from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Algorhythm Price Performance

The firm has a 50-day moving average of $2.26 and a 200-day moving average of $2.40. The stock has a market cap of $5.13 million, a PE ratio of 0.09 and a beta of -0.03. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.53.

Algorhythm (NASDAQ:RIME) last posted its quarterly earnings results on Tuesday, August 19th. The company reported ($0.24) earnings per share for the quarter. The business had revenue of $2.72 million during 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.