Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Update

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 1,872,458 shares, an increase of 363.2% from the January 29th total of 404,242 shares. Approximately 69.5% of the company’s stock are short sold. Based on an average trading volume of 22,224,909 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 22,224,909 shares, the days-to-cover ratio is currently 0.1 days. Approximately 69.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Algorhythm to a “sell” rating in a report on Saturday, February 14th. Zacks Research raised Algorhythm to a “hold” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Algorhythm currently has an average rating of “Hold” and a consensus price target of $5.00.

Algorhythm Trading Down 3.5%

NASDAQ RIME opened at $1.93 on Friday. Algorhythm has a 12-month low of $0.73 and a 12-month high of $4.58. The company has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.50. The stock has a market cap of $5.25 million, a P/E ratio of -0.34 and a beta of -0.17.

About Algorhythm

Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.