PodcastOne (NASDAQ:PODC) Stock Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• PodcastOne shares rose above their 50-day moving average, trading as high as $2.54 and recently at $2.45, up 36.1%; however, the $2.28 50-day average remains below the $2.98 200-day average.
• Analyst sentiment remains weak: ratings include one Hold and one Sell, producing a consensus rating of “Reduce.” The company also reported a quarterly loss of $0.05 per share and revenue below expectations.
• Insiders purchased 81,100 shares worth about $212,293 over the past quarter, while institutional ownership remains limited at 2.87%; the company continues to post negative profitability metrics.

PodcastOne, Inc. (NASDAQ:PODC - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.28 and traded as high as $2.54. PodcastOne shares last traded at $2.45, with a volume of 4,581,338 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on PODC. Zacks Research raised PodcastOne from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PodcastOne in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded shares of PodcastOne from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

PodcastOne Stock Up 36.1%

The company has a 50-day moving average price of $2.28 and a 200-day moving average price of $2.98. The firm has a market capitalization of $74.11 million, a price-to-earnings ratio of -20.42 and a beta of 2.18.

PodcastOne (NASDAQ:PODC - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.05) earnings per share for the quarter. PodcastOne had a negative net margin of 5.01% and a negative return on equity of 17.56%. The business had revenue of $16.12 million for the quarter, compared to the consensus estimate of $17.76 million. As a group, analysts forecast that PodcastOne, Inc. will post -0.12 earnings per share for the current year.

Insider Activity at PodcastOne

In related news, Director D Merriman acquired 17,000 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $3.20 per share, for a total transaction of $54,400.00. Following the completion of the purchase, the director directly owned 326,732 shares in the company, valued at $1,045,542.40. This trade represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 81,100 shares of company stock worth $212,293 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PodcastOne

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of PodcastOne during the second quarter valued at approximately $32,000. Permanens Capital L.P. acquired a new stake in PodcastOne in the second quarter worth approximately $45,000. International Assets Investment Management LLC lifted its position in PodcastOne by 43.3% in the third quarter. International Assets Investment Management LLC now owns 13,898 shares of the company's stock worth $32,000 after purchasing an additional 4,198 shares during the period. Dimensional Fund Advisors LP acquired a new stake in PodcastOne in the first quarter worth approximately $30,000. Finally, BlackRock Inc. bought a new position in PodcastOne during the 2nd quarter valued at $280,000. Institutional investors own 2.87% of the company's stock.

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.

PodcastOne was founded in 2012 by radio executive Norm Pattiz and became part of LiveOne, Inc before becoming a separately traded public company on the Nasdaq.

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