Algorhythm Holdings, Inc. (NASDAQ:RIME) Shares Shorted: Short Interest Down 43.8% in September

Algorhythm Holdings, Inc. (NASDAQ:RIME) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 417,949 shares, a decrease of 43.8% from the August 31st total of 743,512 shares. Based on an average trading volume of 1,213,708 shares, the short-interest ratio is presently 0.3 days. Approximately 2.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Algorhythm in a research note on Monday, August 17th. One equities 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, the stock currently has an average rating of “Reduce”.

Algorhythm Stock Down 0.7%

Shares of Algorhythm stock traded down $0.00 during mid-day trading on Friday, hitting $0.16. The stock had a trading volume of 81,825 shares, compared to its average volume of 3,132,064. The firm has a 50-day moving average of $0.30 and a two-hundred day moving average of $0.64. The firm has a market cap of $2.79 million, a P/E ratio of -0.11 and a beta of -0.10. Algorhythm has a 12-month low of $0.14 and a 12-month high of $4.58.

Algorhythm (NASDAQ:RIME) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.11. Algorhythm had a negative net margin of 176.39% and a negative return on equity of 1,310.33%. The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $3.00 million.

About Algorhythm

Algorhythm Holdings, Inc is a technology and entertainment company focused on music-related products, digital content and artificial intelligence applications. The company operates through businesses that develop consumer entertainment experiences and technology-enabled services.

Its principal operating business is The Singing Machine, a provider of karaoke systems, microphones, accessories and related digital music content. The Singing Machine’s products are distributed through retail and e-commerce channels, primarily in North America and select international markets.

Algorhythm has expanded its focus beyond traditional karaoke hardware to include digital entertainment and AI-driven technology initiatives.