The Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating)'s stock price was down 2.8% on Wednesday . The company traded as low as $4.33 and last traded at $4.55. Approximately 2,891 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 9,043 shares. The stock had previously closed at $4.68.
Singing Machine Price Performance
The business's 50-day moving average price is $4.81 and its two-hundred day moving average price is $6.18.
Get Singing Machine alerts:Singing Machine (NASDAQ:MICS – Get Rating) last posted its quarterly earnings data on Monday, November 14th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $17.11 million during the quarter. Singing Machine had a negative net margin of 0.12% and a negative return on equity of 0.50%.
Insider Activity
In other news, major shareholder Bitnile Holdings, Inc. acquired 5,800 shares of the business's stock in a transaction dated Monday, November 14th. The stock was acquired at an average price of $4.63 per share, with a total value of $26,854.00. Following the completion of the transaction, the insider now directly owns 1,793,000 shares in the company, valued at approximately $8,301,590. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 13,900 shares of company stock valued at $67,645 over the last 90 days. Insiders own 6.30% of the company's stock.Hedge Funds Weigh In On Singing Machine
A hedge fund recently bought a new stake in Singing Machine stock. Virtu Financial LLC purchased a new position in shares of The Singing Machine Company, Inc. (NASDAQ:MICS – Get Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,661 shares of the company's stock, valued at approximately $118,000. Virtu Financial LLC owned about 0.49% of Singing Machine as of its most recent filing with the Securities and Exchange Commission (SEC).
About Singing Machine
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Singing Machine (MICS)
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