Algorhythm (NASDAQ:RIME) Trading 1.5% Higher – What’s Next?

Algorhythm Holdings, Inc. (NASDAQ:RIME) shares shot up 1.5% during trading on Friday . The stock traded as high as $0.6117 and last traded at $0.59. 178,628 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 396,205 shares. The stock had previously closed at $0.5810.

Analyst Upgrades and Downgrades

RIME has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Algorhythm in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Algorhythm from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Algorhythm Stock Up 1.5%

The stock has a market cap of $9.10 million, a PE ratio of -0.40 and a beta of -0.27. The stock has a 50-day moving average of $0.78 and a 200 day moving average of $1.15.

Algorhythm (NASDAQ:RIME) last issued its earnings results on Wednesday, April 1st. The company reported ($1.97) earnings per share (EPS) for the quarter. The business had revenue of $1.37 million during the quarter. Research analysts forecast that Algorhythm Holdings, Inc. will post -1.55 EPS for the current fiscal year.

Algorhythm Company Profile

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.