PodcastOne, Inc. (NASDAQ:PODC) Short Interest Update

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a large decline in short interest in February. As of February 27th, there was short interest totaling 103,035 shares, a decline of 47.4% from the February 12th total of 195,893 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 102,678 shares, the short-interest ratio is presently 1.0 days. Based on an average trading volume of 102,678 shares, the short-interest ratio is presently 1.0 days. Currently, 1.8% of the company’s stock are short sold.

Hedge Funds Weigh In On PodcastOne

Several hedge funds have recently modified their holdings of PODC. Thompson Davis & CO. Inc. purchased a new position in shares of PodcastOne in the 2nd quarter valued at approximately $38,000. Creative Planning purchased a new stake in PodcastOne during the 2nd quarter worth approximately $49,000. Citadel Advisors LLC grew its position in PodcastOne by 267.5% during the 3rd 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 last quarter. NewEdge Advisors LLC acquired a new position in PodcastOne during the 4th quarter valued at approximately $81,000. Finally, Rockefeller Capital Management L.P. acquired a new position in PodcastOne during the 2nd quarter valued at approximately $316,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research raised PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a report on Monday, December 29th. One research 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, PodcastOne has a consensus rating of “Reduce”.

PodcastOne Trading Down 2.6%

Shares of PODC opened at $2.24 on Thursday. PodcastOne has a 12 month low of $1.28 and a 12 month high of $3.35. The stock has a fifty day moving average price of $2.60 and a 200-day moving average price of $2.20. The firm has a market cap of $60.84 million, a PE ratio of -14.93 and a beta of 0.01.

PodcastOne (NASDAQ:PODC) last announced its earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. As a group, research analysts forecast that PodcastOne will post -0.24 EPS for the current year.

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.