Algorhythm (NASDAQ:RIME – Get Free Report) announced its earnings results on Friday. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.11, Zacks reports.
Algorhythm Price Performance
Shares of Algorhythm stock traded down $0.08 on Friday, reaching $0.38. 1,806,756 shares of the company were exchanged, compared to its average volume of 222,655. Algorhythm has a 1-year low of $0.35 and a 1-year high of $4.58. The company has a market cap of $5.79 million, a P/E ratio of -0.25 and a beta of -0.23. The stock’s 50 day moving average price is $0.53 and its 200-day moving average price is $0.97.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a research report on Wednesday, May 20th. Wall Street Zen raised Algorhythm from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Algorhythm has an average rating of “Reduce”.
Algorhythm Company Profile
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.
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