Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Rises By 102.9%

PodcastOne, Inc. (NASDAQ:PODC) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 210,372 shares, an increase of 102.9% from the May 14th total of 103,695 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 229,979 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on PODC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. Wall Street Zen upgraded shares of PodcastOne to a “buy” rating in a research note on Saturday, June 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PodcastOne currently has a consensus rating of “Reduce”.

PodcastOne Stock Up 1.7%

Shares of PODC traded up $0.07 during trading hours on Friday, reaching $4.27. 75,731 shares of the company traded hands, compared to its average volume of 161,681. PodcastOne has a 12 month low of $1.30 and a 12 month high of $5.20. The company’s fifty day moving average price is $3.48 and its two-hundred day moving average price is $2.80. The company has a market capitalization of $117.38 million, a price-to-earnings ratio of -28.47 and a beta of 1.98.

Insider Activity at PodcastOne

In other PodcastOne news, Director D Jonathan Merriman bought 7,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $4.38 per share, with a total value of $30,660.00. Following the completion of the transaction, the director directly owned 309,732 shares in the company, valued at approximately $1,356,626.16. The trade was a 2.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 24,680 shares of company stock worth $69,265 over the last ninety days. Insiders own 79.40% of the company’s stock.

Institutional Investors Weigh In On PodcastOne

Several hedge funds have recently bought and sold shares of PODC. Dimensional Fund Advisors LP bought a new stake in PodcastOne during the first quarter worth about $30,000. Creative Planning bought a new stake in PodcastOne during the second quarter worth about $49,000. Citadel Advisors LLC boosted its stake in PodcastOne by 267.5% during the third 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, NewEdge Advisors LLC bought a new stake in PodcastOne during the fourth quarter worth about $81,000. Institutional investors own 2.87% of the company’s stock.

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.