Algorhythm (NASDAQ:RIME) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Algorhythm (NASDAQ:RIME) released its earnings results on Friday. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.11, Zacks reports.

Algorhythm Trading Down 17.1%

Shares of Algorhythm stock traded down $0.08 on Friday, hitting $0.38. The company had a trading volume of 1,806,756 shares, compared to its average volume of 222,655. The business has a 50-day simple moving average of $0.53 and a 200-day simple moving average of $0.97. Algorhythm has a 52 week low of $0.35 and a 52 week high of $4.58.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Algorhythm from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Algorhythm Company Profile

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.