PodcastOne, Inc. (NASDAQ:PODC) Short Interest Up 102.9% in May

PodcastOne, Inc. (NASDAQ:PODC) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 210,372 shares, a growth of 102.9% from the May 14th total of 103,695 shares. Based on an average daily volume of 229,979 shares, the short-interest ratio is currently 0.9 days. Approximately 3.7% of the company’s shares are short sold.

Insider Activity

In other PodcastOne news, Director D Jonathan Merriman acquired 7,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $4.38 per share, with a total value of $30,660.00. Following the purchase, the director owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. This trade represents a 2.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have acquired 24,680 shares of company stock valued at $69,265. 79.40% of the stock is currently owned by corporate insiders.

Institutional Trading of PodcastOne

Several large investors have recently added to or reduced their stakes in PODC. Creative Planning bought a new stake in PodcastOne during the second quarter valued at approximately $49,000. Citadel Advisors LLC boosted its position in shares of PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after purchasing an additional 30,541 shares during the period. NewEdge Advisors LLC bought a new position in shares of PodcastOne in the fourth quarter worth approximately $81,000. Finally, Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter valued at about $30,000. 2.87% of the stock is currently owned by institutional investors.

PodcastOne Stock Down 6.2%

PodcastOne stock traded down $0.27 during trading hours on Monday, hitting $4.00. The stock had a trading volume of 28,138 shares, compared to its average volume of 135,730. The stock’s 50-day moving average price is $3.48 and its 200-day moving average price is $2.80. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20. The stock has a market capitalization of $110.07 million, a P/E ratio of -27.69 and a beta of 1.98.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PODC. Wall Street Zen raised shares of PodcastOne to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently 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.