PodcastOne, Inc. (NASDAQ:PODC) Sees Significant Growth in Short Interest

PodcastOne, Inc. (NASDAQ:PODCGet Free Report) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 210,372 shares, a growth of 102.9% from the May 14th total of 103,695 shares. Based on an average daily volume of 229,979 shares, the short-interest ratio is currently 0.9 days. Currently, 3.7% of the shares of the company are short sold.

PodcastOne Trading Up 1.7%

Shares of NASDAQ:PODC traded up $0.07 during midday trading on Friday, hitting $4.27. The stock had a trading volume of 75,731 shares, compared to its average volume of 161,681. The company has a market capitalization of $117.37 million, a PE ratio of -28.47 and a beta of 1.98. The stock has a 50 day moving average price of $3.48 and a two-hundred day moving average price of $2.80. PodcastOne has a 1 year low of $1.30 and a 1 year high of $5.20.

Wall Street Analysts Forecast Growth

PODC has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of PodcastOne in a research report on Friday, March 27th. Wall Street Zen raised shares of PodcastOne to a “buy” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Read Our Latest Research Report on PODC

Insider Transactions at PodcastOne

In other PodcastOne news, Director D Jonathan Merriman acquired 7,000 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $4.38 per share, with a total value of $30,660.00. Following the transaction, the director owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. This trade represents a 2.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have acquired 24,680 shares of company stock worth $69,265. Company insiders own 79.40% of the company’s stock.

Institutional Trading of PodcastOne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in shares of PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company’s stock valued at $180,000 after acquiring an additional 55,473 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock valued at $70,000 after acquiring an additional 30,541 shares in the last quarter. Creative Planning purchased a new stake in shares of PodcastOne in the second quarter valued at about $49,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of PodcastOne in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 2.87% of the company’s stock.

PodcastOne Company Profile

(Get Free Report)

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.

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