Algorhythm Holdings Inc. (NASDAQ: RIME)’s stock price has dropped by -7.35 in relation to previous closing price of 0.55. Nevertheless, the company has seen a loss of -16.18% in its stock price over the last five trading days.
Is It Worth Investing in Algorhythm Holdings Inc. (NASDAQ: RIME) Right Now?
Moreover, the 36-month beta value for RIME is 0.19. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for RIME is 4.02M and currently, short sellers hold a 1.97% of that float. On September 30, 2024, RIME’s average trading volume was 516.57K shares.
RIME’s Market Performance
RIME stock saw an increase of -16.18% in the past week, with a monthly gain of 0.04% and a quarterly increase of -56.45%. The volatility ratio for the week is 11.97%, and the volatility levels for the last 30 days are 19.22% for Algorhythm Holdings Inc. (RIME). The simple moving average for the past 20 days is -20.51% for RIME’s stock, with a -44.47% simple moving average for the past 200 days.
RIME Trading at -12.81% from the 50-Day Moving Average
After a stumble in the market that brought RIME to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -74.36% of loss for the given period.
Volatility was left at 19.22%, however, over the last 30 days, the volatility rate increased by 11.97%, as shares sank -14.52% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.68% lower at present.
During the last 5 trading sessions, RIME fell by -16.18%, which changed the moving average for the period of 200-days by -53.23% in comparison to the 20-day moving average, which settled at $0.6312. In addition, Algorhythm Holdings Inc. saw -49.98% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RIME starting from AULT MILTON C III, who sale 38,459 shares at the price of $0.57 back on Sep 24 ’24. After this action, AULT MILTON C III now owns 1,610,700 shares of Algorhythm Holdings Inc., valued at $21,906 using the latest closing price.
AULT MILTON C III, the 10% Owner of Algorhythm Holdings Inc., sale 21,300 shares at $0.55 during a trade that took place back on Sep 25 ’24, which means that AULT MILTON C III is holding 1,589,400 shares at $11,719 based on the most recent closing price.
Stock Fundamentals for RIME
Equity return is now at value -59.57, with -32.63 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.30.
Conclusion
To wrap up, the performance of Algorhythm Holdings Inc. (RIME) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
