PodcastOne (NASDAQ:PODC) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of PodcastOne (NASDAQ:PODC) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages also recently commented on PODC. Weiss Ratings downgraded shares of PodcastOne from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Zacks Research upgraded PodcastOne from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

PodcastOne Stock Performance

PodcastOne stock traded up $0.11 during trading hours on Friday, reaching $2.29. 91,672 shares of the stock were exchanged, compared to its average volume of 335,572. The stock has a market cap of $69.27 million, a P/E ratio of -22.90 and a beta of 2.14. PodcastOne has a 52-week low of $1.41 and a 52-week high of $5.20. The firm’s 50 day moving average is $2.15 and its 200 day moving average is $2.96.

PodcastOne (NASDAQ:PODC) last released its earnings results on Thursday, November 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $15.41 million during the quarter, compared to analysts’ expectations of $17.28 million. PodcastOne had a negative net margin of 4.21% and a negative return on equity of 13.96%. Equities research analysts expect that PodcastOne will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PodcastOne news, Director D Merriman bought 15,700 shares of PodcastOne stock in a transaction on Friday, August 21st. The stock was bought at an average price of $2.75 per share, with a total value of $43,175.00. Following the completion of the acquisition, the director owned 353,732 shares in the company, valued at $972,763. The trade was a 4.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 64,100 shares of company stock valued at $157,893 over the last three months. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PodcastOne

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in PodcastOne by 344.3% during the third quarter. International Assets Investment Management LLC now owns 43,100 shares of the company’s stock worth $100,000 after buying an additional 33,400 shares during the period. Integrated Wealth Concepts LLC purchased a new position in PodcastOne in the second quarter valued at about $32,000. Permanens Capital L.P. purchased a new position in PodcastOne in the second quarter valued at about $45,000. BlackRock Inc. purchased a new position in PodcastOne in the second quarter valued at about $280,000. Finally, NewEdge Advisors LLC lifted its position in shares of PodcastOne by 168.2% during the 1st quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after acquiring an additional 55,473 shares during the period. 2.87% of the stock is owned by institutional investors and hedge funds.

About PodcastOne

PodcastOne, Inc. operates a podcast network that produces, distributes and monetizes audio programming. Its services include podcast production and distribution, advertising sales and sponsorships, helping creators reach audiences and advertisers connect with podcast listeners. The company’s catalog spans topics such as entertainment, sports, news and lifestyle. Its programs are distributed through its website and major podcast-listening platforms, with its business primarily focused on the U.S. market.