PodcastOne (NASDAQ:PODC) Stock Price Breaks Above 50 Day Moving Average – Should You Sell?

PodcastOne, Inc. (NASDAQ:PODC) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.28 and traded as high as $2.54. PodcastOne shares last traded at $2.45, with a volume of 4,581,338 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PodcastOne in a report on Monday, September 21st. Zacks Research upgraded PodcastOne from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Finally, Wall Street Zen downgraded shares of PodcastOne from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

PodcastOne Stock Performance

The company has a 50 day moving average price of $2.28 and a 200 day moving average price of $2.98. The company has a market capitalization of $72.30 million, a price-to-earnings ratio of -19.92 and a beta of 2.18.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $16.12 million for the quarter, compared to analyst estimates of $17.76 million. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%. Research analysts forecast that PodcastOne, Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at PodcastOne

In other news, Director D Merriman bought 17,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $3.20 per share, for a total transaction of $54,400.00. Following the acquisition, the director directly owned 326,732 shares in the company, valued at approximately $1,045,542.40. This trade represents a 5.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 81,100 shares of company stock worth $212,293 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of PodcastOne

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its holdings in PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock worth $180,000 after buying an additional 55,473 shares during the last quarter. BlackRock Inc. bought a new position in shares of PodcastOne in the second quarter valued at $280,000. Dimensional Fund Advisors LP bought a new position in shares of PodcastOne in the first quarter valued at $30,000. International Assets Investment Management LLC grew its holdings in shares of PodcastOne by 43.3% during the third quarter. International Assets Investment Management LLC now owns 13,898 shares of the company’s stock valued at $32,000 after buying an additional 4,198 shares during the last quarter. Finally, Permanens Capital L.P. acquired a new position in shares of PodcastOne during the second quarter valued at about $45,000. Institutional investors and hedge funds own 2.87% of the company’s stock.

PodcastOne Company Profile

PodcastOne, Inc operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers.

The company’s programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.

PodcastOne was founded in 2012 by radio executive Norm Pattiz and became part of LiveOne, Inc before becoming a separately traded public company on the Nasdaq.