PodcastOne, Inc. (NASDAQ:PODC) Sees Significant Drop in Short Interest

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a significant decline in short interest in the month of 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 shares are sold short. Based on an average daily volume of 102,678 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 102,678 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.8% of the company’s shares are sold short.

PodcastOne Stock Down 2.6%

Shares of NASDAQ PODC opened at $2.24 on Thursday. PodcastOne has a twelve month low of $1.28 and a twelve month high of $3.35. The firm has a market cap of $60.84 million, a PE ratio of -14.93 and a beta of 0.01. The business has a fifty day simple moving average of $2.60 and a two-hundred day simple moving average of $2.20.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $15.86 million for the quarter, compared to the consensus estimate of $15.03 million. PodcastOne had a negative return on equity of 24.78% and a negative net margin of 6.22%. On average, research analysts expect that PodcastOne will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On PodcastOne

Several large investors have recently modified their holdings of PODC. Thompson Davis & CO. Inc. bought a new position in shares of PodcastOne during the second quarter valued at approximately $38,000. Creative Planning bought a new position in PodcastOne in the second quarter worth approximately $49,000. Citadel Advisors LLC raised its stake in 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 buying an additional 30,541 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in PodcastOne during the fourth quarter worth $81,000. Finally, Rockefeller Capital Management L.P. bought a new stake in PodcastOne during the 2nd quarter valued at $316,000. Institutional investors own 2.87% of the company’s stock.

Analyst Ratings Changes

PODC has been the topic of several recent analyst reports. Zacks Research raised shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of PodcastOne in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

PodcastOne Company Profile

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.