Short Interest in PodcastOne, Inc. (NASDAQ:PODC) Rises By 102.9%

PodcastOne, Inc. (NASDAQ:PODC) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 210,372 shares, a growth of 102.9% from the May 14th total of 103,695 shares. Based on an average trading volume of 229,979 shares, the short-interest ratio is currently 0.9 days. Approximately 3.7% of the company’s stock are short sold.

PodcastOne Stock Up 1.7%

PodcastOne stock traded up $0.07 during trading hours on Friday, hitting $4.27. The stock had a trading volume of 75,731 shares, compared to its average volume of 161,681. The stock has a market capitalization of $117.38 million, a P/E ratio of -28.47 and a beta of 1.98. PodcastOne has a 12-month low of $1.30 and a 12-month high of $5.20. The stock’s 50-day moving average price is $3.48 and its 200-day moving average price is $2.80.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wall Street Zen raised shares of PodcastOne to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PodcastOne in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Insider Buying and Selling

In other PodcastOne news, Director D Jonathan Merriman acquired 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $4.38 per share, with a total value of $30,660.00. Following the completion of the purchase, the director directly owned 309,732 shares of the company’s stock, valued at approximately $1,356,626.16. The trade was a 2.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 24,680 shares of company stock worth $69,265 over the last 90 days. Insiders own 79.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new position in PodcastOne in the first quarter worth about $30,000. Creative Planning purchased a new position in PodcastOne in the second quarter worth about $49,000. Citadel Advisors LLC raised its holdings in PodcastOne by 267.5% in the third quarter. Citadel Advisors LLC now owns 41,958 shares of the company’s stock worth $70,000 after buying an additional 30,541 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of PodcastOne during the fourth quarter valued at approximately $81,000. 2.87% of the stock is owned by hedge funds and other institutional investors.

About PodcastOne

PodcastOne is a leading digital audio network specializing in the development, production and distribution of original podcast programming. The company offers a diverse slate of exclusive shows spanning genres such as entertainment, sports, business, politics and lifestyle. Its content lineup features long-form interviews, narrative series and personality-driven talk formats designed to engage listeners across North America and beyond.

The company’s revenue model centers on advertising and branded content solutions.