PodcastOne, Inc. (NASDAQ:PODC) Short Interest Up 31.1% in June

PodcastOne, Inc. (NASDAQ:PODC) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 36,700 shares, an increase of 31.1% from the May 31st total of 28,000 shares. Based on an average trading volume of 36,800 shares, the short-interest ratio is presently 1.0 days. Currently, 0.2% of the company’s shares are short sold.

Insider Activity at PodcastOne

In other PodcastOne news, Director D Jonathan Merriman purchased 28,839 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average price of $1.86 per share, with a total value of $53,640.54. Following the acquisition, the director now owns 28,839 shares in the company, valued at $53,640.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 76,539 shares of company stock valued at $142,726.

Analyst Upgrades and Downgrades

Separately, Litchfield Hills Research assumed coverage on shares of PodcastOne in a research report on Thursday, June 6th. They issued a “buy” rating and a $5.00 price objective on the stock.

PodcastOne Price Performance

PodcastOne stock opened at $1.68 on Friday. PodcastOne has a 1-year low of $1.37 and a 1-year high of $5.80. The company’s 50-day moving average is $1.83 and its 200 day moving average is $1.87.

PodcastOne (NASDAQ:PODC) last issued its earnings results on Thursday, May 30th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $11.71 million for the quarter. PodcastOne had a negative net margin of 34.02% and a negative return on equity of 108.47%. On average, equities research analysts anticipate that PodcastOne will post -0.22 EPS for the current year.

PodcastOne Company Profile

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.