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

Algorhythm Holdings, Inc. (NASDAQ:RIME) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 201,700 shares, a drop of 53.7% from the August 31st total of 435,600 shares. Approximately 9.0% of the shares of the stock are sold short. Based on an average trading volume of 258,400 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 258,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 9.0% of the shares of the stock are sold short.

Analyst Ratings Changes

RIME has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Algorhythm from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Algorhythm in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

Algorhythm Trading Down 0.7%

Shares of NASDAQ RIME opened at $2.73 on Friday. Algorhythm has a twelve month low of $1.71 and a twelve month high of $156.20. The firm has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.53.

Algorhythm (NASDAQ:RIME) last announced its earnings results on Tuesday, August 19th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $2.72 million for the quarter.

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.