PodcastOne, Inc. (NASDAQ:PODC) Sees Large Growth in Short Interest

PodcastOne, Inc. (NASDAQ:PODC) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 112,152 shares, an increase of 106.4% from the January 15th total of 54,330 shares. Based on an average trading volume of 143,751 shares, the short-interest ratio is currently 0.8 days. Currently, 2.0% of the shares of the company are short sold. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 143,751 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

PODC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a research report on Monday, December 29th. Zacks Research upgraded shares of PodcastOne from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

PodcastOne Trading Up 6.7%

Shares of PODC stock opened at $2.86 on Friday. The stock has a market cap of $76.97 million, a P/E ratio of -19.07 and a beta of -0.11. PodcastOne has a 1 year low of $1.28 and a 1 year high of $3.35. The stock has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $2.09.

PodcastOne (NASDAQ:PODC) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. PodcastOne had a negative return on equity of 25.15% and a negative net margin of 6.22%.The firm had revenue of $15.86 million for the quarter, compared to analyst estimates of $15.03 million. Analysts forecast that PodcastOne will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PODC. Thompson Davis & CO. Inc. acquired a new stake in shares of PodcastOne in the 2nd quarter valued at $38,000. Creative Planning bought a new stake in shares of PodcastOne during the 2nd quarter worth $49,000. Citadel Advisors LLC boosted its stake in PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after buying an additional 30,541 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in PodcastOne in the second quarter valued at about $316,000. 2.87% of the stock is owned by institutional investors.

PodcastOne Company Profile

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.