Algorhythm (NASDAQ:RIME) Trading Up 1.5% – Time to Buy?

Algorhythm Holdings, Inc. (NASDAQ:RIME) shares rose 1.5% on Friday . The stock traded as high as $0.6117 and last traded at $0.59. 178,628 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 396,205 shares. The stock had previously closed at $0.5810.

Analyst Ratings Changes

A number of brokerages have weighed in on RIME. Wall Street Zen raised shares of Algorhythm from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Algorhythm Stock Up 1.5%

The company has a market cap of $9.10 million, a P/E ratio of -0.40 and a beta of -0.27. The business has a 50-day moving average price of $0.78 and a two-hundred day moving average price of $1.15.

Algorhythm (NASDAQ:RIME) last posted its quarterly earnings results on Wednesday, April 1st. The company reported ($1.97) earnings per share (EPS) for the quarter. The company had revenue of $1.37 million during the quarter. As a group, sell-side analysts expect that Algorhythm Holdings, Inc. will post -1.55 EPS for the current fiscal year.

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.