PodcastOne, Inc. (NASDAQ:PODC) Short Interest Down 25.4% in January

PodcastOne, Inc. (NASDAQ:PODC) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 73,300 shares, a decline of 25.4% from the January 15th total of 98,300 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 55,200 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On PodcastOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PODC. Fleming James B JR purchased a new position in PodcastOne during the fourth quarter worth about $189,000. Apollon Wealth Management LLC bought a new position in PodcastOne during the 4th quarter valued at approximately $54,000. International Assets Investment Management LLC raised its position in PodcastOne by 92.3% during the 4th quarter. International Assets Investment Management LLC now owns 30,600 shares of the company’s stock valued at $64,000 after purchasing an additional 14,688 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in PodcastOne during the 4th quarter valued at approximately $26,000. 2.87% of the stock is currently owned by hedge funds and other institutional investors.

PodcastOne Stock Performance

Shares of NASDAQ:PODC traded up $0.01 during midday trading on Friday, reaching $1.97. 31,376 shares of the company traded hands, compared to its average volume of 39,519. PodcastOne has a 12 month low of $1.10 and a 12 month high of $2.85. The firm’s fifty day moving average price is $2.28 and its two-hundred day moving average price is $1.82.

PodcastOne (NASDAQ:PODC) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. PodcastOne had a negative return on equity of 42.22% and a negative net margin of 14.08%. Research analysts predict that PodcastOne will post -0.21 EPS for the current year.

About PodcastOne

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.