Short Interest in The Singing Machine Company, Inc. (NASDAQ:MICS) Rises By 27.2%

The Singing Machine Company, Inc. (NASDAQ:MICSGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 28,500 shares, an increase of 27.2% from the April 30th total of 22,400 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 39,100 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Singing Machine

An institutional investor recently raised its position in Singing Machine stock. Perritt Capital Management Inc. lifted its position in The Singing Machine Company, Inc. (NASDAQ:MICSFree Report) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,720 shares of the company’s stock after acquiring an additional 38,358 shares during the period. Perritt Capital Management Inc. owned 3.41% of Singing Machine worth $145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Singing Machine Price Performance

MICS traded down $0.10 on Friday, hitting $1.39. The company had a trading volume of 64,447 shares, compared to its average volume of 51,302. The stock has a fifty day moving average price of $1.02 and a 200-day moving average price of $0.98. Singing Machine has a 12-month low of $0.61 and a 12-month high of $2.49.

Singing Machine Company Profile

(Get Free Report)

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, 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; 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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