PodcastOne, Inc. (NASDAQ:PODC) Sees Large Increase in Short Interest

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

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

PodcastOne Trading Up 8.1%

Shares of NASDAQ PODC traded up $0.17 during mid-day trading on Friday, reaching $2.26. The company had a trading volume of 55,960 shares, compared to its average volume of 116,460. The stock has a market cap of $62.12 million, a PE ratio of -15.07 and a beta of 0.48. The company has a 50-day moving average price of $2.41 and a two-hundred day moving average price of $2.30. PodcastOne has a 1-year low of $1.30 and a 1-year high of $3.35.

PodcastOne (NASDAQ:PODC) last issued its quarterly 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 return on equity of 24.78% and a negative net margin of 6.22%.The business had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. On average, research analysts expect that PodcastOne will post -0.24 EPS for the current year.

Hedge Funds Weigh In On PodcastOne

Several large investors have recently added to or reduced their stakes in PODC. NewEdge Advisors LLC acquired a new stake in shares of PodcastOne during the fourth quarter worth $81,000. Citadel Advisors LLC increased its position 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, Creative Planning acquired a new position in PodcastOne during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

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.