The Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 144,600 shares, a drop of 19.3% from the November 30th total of 179,100 shares. Currently, 14.0% of the company's shares are sold short. Based on an average trading volume of 20,000 shares, the short-interest ratio is currently 7.2 days.
Singing Machine Trading Down 8.1 %
MICS stock opened at $4.42 on Tuesday. Singing Machine has a 52-week low of $2.39 and a 52-week high of $10.10. The business has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $6.57.
Get Singing Machine alerts:Singing Machine (NASDAQ:MICS – Get Rating) last announced its earnings results on Monday, November 14th. The company reported $0.08 earnings per share for the quarter. Singing Machine had a negative return on equity of 0.50% and a negative net margin of 0.12%. The firm had revenue of $17.11 million for the quarter.
Insider Transactions at Singing Machine
In other Singing Machine news, major shareholder Bitnile Holdings, Inc. acquired 5,800 shares of the stock in a transaction dated Monday, November 14th. The stock was purchased at an average cost of $4.63 per share, with a total value of $26,854.00. Following the transaction, the insider now owns 1,793,000 shares in the company, valued at approximately $8,301,590. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 23,900 shares of company stock valued at $126,651. Corporate insiders own 6.30% of the company's stock.Hedge Funds Weigh In On Singing Machine
An institutional investor recently bought a new position in Singing Machine stock. Virtu Financial LLC bought a new stake in shares of The Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,661 shares of the company's stock, valued at approximately $118,000. Virtu Financial LLC owned 0.49% of Singing Machine at the end of the most recent reporting period.
Singing Machine Company Profile
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The Singing Machine Company, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Europe, and Australia. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone accessories and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; 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.
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