Algorhythm Holdings, Inc. (NASDAQ:RIME) Short Interest Update

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 1,872,458 shares, an increase of 363.2% from the January 29th total of 404,242 shares. Currently, 69.5% of the shares of the stock are sold short. Based on an average trading volume of 22,224,909 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 22,224,909 shares, the short-interest ratio is currently 0.1 days. Currently, 69.5% of the shares of the stock are sold short.

Algorhythm Stock Down 8.3%

Shares of NASDAQ:RIME opened at $2.00 on Thursday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $5.44 million, a price-to-earnings ratio of -0.36 and a beta of -0.17. The company has a 50 day moving average of $1.28 and a 200-day moving average of $1.80. Algorhythm has a one year low of $0.73 and a one year high of $4.58.

Analysts Set New Price Targets

A number of research firms have commented on RIME. Zacks Research raised Algorhythm to a “hold” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Algorhythm to a “sell” rating in a research report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.

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.