PodcastOne, Inc. (NASDAQ:PODC) Short Interest Up 30.4% in March

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 120,926 shares, a growth of 30.4% from the March 15th total of 92,752 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily trading volume, of 44,968 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Creative Planning bought a new stake in shares of PodcastOne during the 2nd quarter worth approximately $49,000. Citadel Advisors LLC increased its holdings in PodcastOne by 267.5% during the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after buying an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in PodcastOne during the fourth quarter worth $81,000. 2.87% of the stock is currently owned by institutional investors.

PodcastOne Price Performance

Shares of PODC traded up $0.17 during mid-day trading on Friday, hitting $2.26. 55,960 shares of the company’s stock were exchanged, compared to its average volume of 116,460. The company has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.30. The company has a market cap of $62.12 million, a PE ratio of -15.07 and a beta of 0.48. PodcastOne has a 52 week low of $1.30 and a 52 week high of $3.35.

PodcastOne (NASDAQ:PODC) last released its earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. PodcastOne had a negative net margin of 6.22% and a negative return on equity of 24.78%. The business had revenue of $15.86 million during the quarter, compared to the consensus estimate of $15.03 million. On average, analysts anticipate that PodcastOne will post -0.24 earnings per share for the current year.

PodcastOne Company Profile

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.