PodcastOne (NASDAQ:PODC) Stock Breaks Above Fifty Day Moving Average - Time to Sell?

Key Points

• PodcastOne shares rose 1.4% and moved above their 50-day moving average of $2.16, reaching as high as $2.43 before last trading at $2.18.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating, following downgrades to Sell and an upgrade to Hold.
• Quarterly EPS of a $0.02 loss beat estimates by $0.01, but revenue of $15.41 million fell short of the $17.28 million forecast; insiders have also bought shares in recent months.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $2.16 and traded as high as $2.43. PodcastOne shares last traded at $2.18, with a volume of 223,718 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PODC. Wall Street Zen downgraded PodcastOne from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Weiss Ratings lowered PodcastOne from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday. Finally, Zacks Research upgraded PodcastOne from a "strong sell" rating to a "hold" rating in a report on Monday, October 19th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, PodcastOne has a consensus rating of "Reduce".

PodcastOne Stock Up 1.4%

The stock has a market cap of $65.95 million, a price-to-earnings ratio of -18.17 and a beta of 2.14. The stock's fifty day moving average is $2.16 and its 200-day moving average is $2.96.

PodcastOne (NASDAQ:PODC - Get Free Report) last posted its earnings results on Thursday, November 12th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $15.41 million for the quarter, compared to analyst estimates of $17.28 million. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. As a group, equities research analysts predict that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity at PodcastOne

In other news, Director D Merriman acquired 15,700 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of $2.75 per share, for a total transaction of $43,175.00. Following the transaction, the director directly owned 353,732 shares in the company, valued at approximately $972,763. This represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have acquired 64,100 shares of company stock valued at $157,893. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PODC. Dimensional Fund Advisors LP bought a new stake in shares of PodcastOne in the first quarter worth about $30,000. NewEdge Advisors LLC raised its position in shares of PodcastOne by 168.2% during the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company's stock worth $180,000 after purchasing an additional 55,473 shares during the period. BlackRock Inc. bought a new position in shares of PodcastOne during the 2nd quarter valued at about $280,000. International Assets Investment Management LLC lifted its holdings in shares of PodcastOne by 43.3% during the 3rd quarter. International Assets Investment Management LLC now owns 13,898 shares of the company's stock valued at $32,000 after purchasing an additional 4,198 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of PodcastOne during the 2nd quarter valued at about $32,000. 2.87% of the stock is currently owned by institutional investors.

About PodcastOne

PodcastOne, Inc. operates a podcast network and digital audio platform that produces, distributes, hosts and monetizes podcasts. Its services include podcast advertising, sponsorship sales, audience development, content production and technology support for podcast creators and publishers. The company's programming spans news, comedy, entertainment, sports, business, lifestyle and true crime. PodcastOne distributes its shows through its own platform and major third-party audio services, while also providing advertisers with opportunities to reach podcast audiences through host-read advertisements, sponsorships and other integrated campaigns.

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