Singing Machine (NASDAQ:MICS) Shares Down 7.5% – Here’s Why

Shares of The Singing Machine Company, Inc. (NASDAQ:MICS) fell 7.5% on Tuesday . The stock traded as low as $0.95 and last traded at $0.98. 792,387 shares were traded during trading, an increase of 210% from the average session volume of 255,673 shares. The stock had previously closed at $1.06.

Singing Machine Trading Down 7.5%

The firm has a market cap of $4.14 million, a PE ratio of -0.75 and a beta of 0.19. The company has a 50-day simple moving average of $1.30 and a 200 day simple moving average of $1.93.

Singing Machine Company Profile

The Singing Machine Company, Inc (NASDAQ: MICS) is a designer, manufacturer and distributor of consumer audio electronics specializing in karaoke entertainment products. The company develops a broad range of karaoke machines, microphones, mixers, portable speakers and related accessories that enable users to host at-home karaoke sessions or integrate karaoke functions into existing audio systems. Its product portfolio includes tabletop and freestanding karaoke consoles, wireless microphone systems, headphone units and karaoke content in CD+G, digital download and streaming formats.

In addition to hardware offerings, The Singing Machine Company licenses popular song content from major music publishers and record labels, providing users access to an extensive library of karaoke tracks.