Algorhythm (NASDAQ:RIME) Shares Up 14.9% – What’s Next?

Algorhythm Holdings, Inc. (NASDAQ:RIME)’s stock price was up 14.9% during trading on Friday . The company traded as high as $0.12 and last traded at $0.11. Approximately 85,793,461 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 54,882,629 shares. The stock had previously closed at $0.10.

Algorhythm Stock Up 14.9 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.87 and a quick ratio of 0.43. The firm’s 50 day simple moving average is $0.19.

Insider Activity at Algorhythm

In other Algorhythm news, major shareholder Milton C. Ault III sold 365,100 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $0.73, for a total value of $266,523.00. Following the sale, the insider now owns 945,000 shares of the company’s stock, valued at $689,850. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.40% of the company’s stock.

About Algorhythm

Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; 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.