PodcastOne (NASDAQ:PODC) Trading Up 8.8% – Should You Buy?

PodcastOne, Inc. (NASDAQ:PODC)’s share price was up 8.8% on Tuesday . The company traded as high as $1.97 and last traded at $1.91. Approximately 161,203 shares traded hands during trading, an increase of 448% from the average daily volume of 29,400 shares. The stock had previously closed at $1.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

PodcastOne Price Performance

The stock has a market cap of $50.44 million, a price-to-earnings ratio of -8.30 and a beta of -0.09. The business’s 50-day simple moving average is $1.68 and its two-hundred day simple moving average is $1.85.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. PodcastOne had a negative net margin of 10.86% and a negative return on equity of 38.84%. The firm had revenue of $14.99 million for the quarter, compared to analyst estimates of $14.90 million. Equities research analysts forecast that PodcastOne, Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PODC. XTX Topco Ltd acquired a new position in shares of PodcastOne in the first quarter valued at approximately $26,000. Pingora Partners LLC raised its stake in shares of PodcastOne by 122.3% during the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock valued at $27,000 after acquiring an additional 9,200 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of PodcastOne during the second quarter valued at $38,000. Creative Planning bought a new position in shares of PodcastOne during the second quarter valued at $49,000. Finally, International Assets Investment Management LLC raised its stake in shares of PodcastOne by 29.4% during the first quarter. International Assets Investment Management LLC now owns 39,600 shares of the company’s stock valued at $64,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 2.87% of the company’s stock.

PodcastOne Company Profile

PodcastOne, Inc operates as a podcast platform and publisher. The company offers its content to audiences through podcasting distribution platforms, including its website, Apple Podcasts, Spotify, Amazon Music, and others. It also produces vodcasts, branded podcasts, merchandise, and live events. In addition, the company builds, owns, and operates LaunchPadOne, a self-publishing podcast platform.