Short Interest in Algorhythm Holdings, Inc. (NASDAQ:RIME) Increases By 363.2%

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 1,872,458 shares, an increase of 363.2% from the January 29th total of 404,242 shares. Based on an average daily trading volume, of 22,224,909 shares, the short-interest ratio is presently 0.1 days. Currently, 69.5% of the company’s shares are sold short. Currently, 69.5% of the company’s shares are sold short. Based on an average daily trading volume, of 22,224,909 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RIME. Zacks Research upgraded shares of Algorhythm to a “hold” rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of Algorhythm to a “sell” rating in a report on Saturday, February 14th. One equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.00.

Algorhythm Stock Down 8.3%

Algorhythm stock opened at $2.00 on Thursday. The company has a 50 day moving average of $1.28 and a 200-day moving average of $1.80. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 2.50. Algorhythm has a twelve month low of $0.73 and a twelve month high of $4.58. The stock has a market capitalization of $5.44 million, a PE ratio of -0.36 and a beta of -0.17.

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.