Algorhythm (NASDAQ:RIME) Stock Price Up 4.2% – Time to Buy?

Shares of Algorhythm Holdings, Inc. (NASDAQ:RIME) shot up 4.2% on Tuesday . The company traded as high as $0.53 and last traded at $0.4851. Approximately 137,535 shares were traded during mid-day trading, a decline of 43% from the average session volume of 239,425 shares. The stock had previously closed at $0.4654.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RIME. Wall Street Zen raised shares of Algorhythm from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Algorhythm Stock Up 4.2%

The firm has a 50 day moving average of $0.64 and a 200-day moving average of $1.04. The company has a market cap of $7.49 million, a P/E ratio of -0.33 and a beta of -0.26.

Algorhythm (NASDAQ:RIME) last issued its earnings results on Wednesday, April 1st. The company reported ($1.97) earnings per share for the quarter. The business had revenue of $1.37 million during the quarter. On average, research analysts predict that Algorhythm Holdings, Inc. will post -1.55 EPS for the current fiscal year.

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.