Algorhythm (NASDAQ:RIME) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Algorhythm (NASDAQ:RIME) from a sell rating to a hold rating in a report released on Saturday.

Separately, Zacks Research raised shares of Algorhythm to a “hold” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

Algorhythm Stock Performance

Shares of RIME opened at $0.66 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $9.68 million, a P/E ratio of -0.12 and a beta of -0.21. The firm’s fifty day simple moving average is $1.13 and its two-hundred day simple moving average is $1.38. Algorhythm has a 12 month low of $0.54 and a 12 month high of $4.58.

Algorhythm (NASDAQ:RIME) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($1.97) EPS for the quarter. The business had revenue of $1.37 million for the quarter. As a group, analysts predict that Algorhythm will post -3.05 EPS for the current year.

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.