Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Increases By 106.4%

PodcastOne, Inc. (NASDAQ:PODC) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 112,152 shares, a growth of 106.4% from the January 15th total of 54,330 shares. Based on an average daily trading volume, of 143,751 shares, the short-interest ratio is presently 0.8 days. Approximately 2.0% of the company’s stock are sold short. Approximately 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 143,751 shares, the short-interest ratio is presently 0.8 days.

PodcastOne Trading Up 6.7%

Shares of PODC stock opened at $2.86 on Friday. The company has a market cap of $76.96 million, a P/E ratio of -19.07 and a beta of -0.11. The firm has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.08. PodcastOne has a 12 month low of $1.28 and a 12 month high of $3.35.

PodcastOne (NASDAQ:PODC) last posted 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. The company had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $15.03 million. PodcastOne had a negative return on equity of 25.15% and a negative net margin of 6.22%. On average, equities analysts forecast that PodcastOne will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PODC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, December 29th. Zacks Research upgraded PodcastOne from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One research 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 stock presently has an average rating of “Reduce”.

Hedge Funds Weigh In On PodcastOne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. acquired a new stake in PodcastOne during the second quarter worth approximately $38,000. Creative Planning purchased a new position in shares of PodcastOne in the 2nd quarter valued at $49,000. Citadel Advisors LLC raised its stake 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 acquiring an additional 30,541 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in PodcastOne in the second quarter valued at $316,000. 2.87% of the stock is owned by institutional investors and hedge funds.

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.