Algorhythm (NASDAQ:RIME) Trading 4.2% Higher – Time to Buy?

Algorhythm Holdings, Inc. (NASDAQ:RIME) shot up 4.2% during trading on Tuesday . The company traded as high as $0.53 and last traded at $0.4851. Approximately 137,535 shares changed hands during trading, a decline of 43% from the average session volume of 239,425 shares. The stock had previously closed at $0.4654.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIME. Weiss Ratings restated a “sell (e+)” rating on shares of Algorhythm in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Algorhythm from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Algorhythm Trading Up 4.2%

The stock has a market capitalization of $7.49 million, a P/E ratio of -0.33 and a beta of -0.26. The company has a 50-day moving average price of $0.64 and a 200 day moving average price of $1.04.

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

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.