Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Sells $266,523.00 in Stock

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 365,100 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $0.73, for a total value of $266,523.00. Following the transaction, the insider now owns 945,000 shares in the company, valued at $689,850. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Algorhythm Stock Performance

Shares of RIME stock traded down $0.06 on Tuesday, hitting $0.54. The company’s stock had a trading volume of 4,142,286 shares, compared to its average volume of 1,084,532. Algorhythm Holdings, Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $1.97.

Algorhythm (NASDAQ:RIME) last announced its earnings results on Monday, August 19th. The company reported ($0.95) EPS for the quarter. The firm had revenue of $2.44 million for the quarter.

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.