PodcastOne (NASDAQ:PODC) Announces Earnings Results

PodcastOne (NASDAQ:PODC) issued its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01, Zacks reports. PodcastOne had a negative return on equity of 34.68% and a negative net margin of 9.07%.

PodcastOne Price Performance

Shares of NASDAQ:PODC traded down $0.28 during midday trading on Thursday, reaching $2.73. 830,483 shares of the company’s stock were exchanged, compared to its average volume of 186,614. The stock has a market cap of $73.33 million, a price-to-earnings ratio of -13.62 and a beta of -0.11. PodcastOne has a fifty-two week low of $1.28 and a fifty-two week high of $3.35. The firm’s 50 day simple moving average is $2.47 and its two-hundred day simple moving average is $2.07.

Institutional Investors Weigh In On PodcastOne

An institutional investor recently raised its position in PodcastOne stock. Citadel Advisors LLC grew its stake in PodcastOne, Inc. (NASDAQ:PODC) by 267.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 41,958 shares of the company’s stock after acquiring an additional 30,541 shares during the period. Citadel Advisors LLC owned about 0.16% of PodcastOne worth $70,000 as of its most recent filing with the SEC. 2.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PODC. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, December 29th. Zacks Research upgraded PodcastOne from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

About PodcastOne

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.