Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Declines By 43.8%

PodcastOne, Inc. (NASDAQ:PODC) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 92,200 shares, a decline of 43.8% from the August 31st total of 164,100 shares. Based on an average daily volume of 86,600 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.6% of the company’s stock are sold short. Approximately 2.6% of the company’s stock are sold short. Based on an average daily volume of 86,600 shares, the days-to-cover ratio is presently 1.1 days.

PodcastOne Stock Down 1.2%

Shares of NASDAQ PODC opened at $1.64 on Monday. The firm has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $1.85. The stock has a market capitalization of $43.31 million, a price-to-earnings ratio of -7.13 and a beta of -0.09. PodcastOne has a 52 week low of $1.10 and a 52 week high of $2.94.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On PodcastOne

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of PodcastOne by 29.4% in the first quarter. International Assets Investment Management LLC now owns 39,600 shares of the company’s stock valued at $64,000 after purchasing an additional 9,000 shares during the period. Citadel Advisors LLC acquired a new stake in PodcastOne in the fourth quarter valued at approximately $52,000. XTX Topco Ltd acquired a new stake in PodcastOne during the first quarter worth approximately $26,000. Pingora Partners LLC raised its holdings in PodcastOne by 122.3% during the first quarter. Pingora Partners LLC now owns 16,724 shares of the company’s stock worth $27,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Creative Planning acquired a new stake in PodcastOne during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 2.87% of the company’s stock.

About PodcastOne

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.