Insider Selling: Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Sells 46,900 Shares of Stock

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 46,900 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $0.47, for a total value of $22,043.00. Following the completion of the sale, the insider now owns 1,310,000 shares of the company’s stock, valued at approximately $615,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Algorhythm Trading Down 6.8 %

NASDAQ:RIME opened at $0.51 on Friday. Algorhythm Holdings, Inc. has a 1 year low of $0.35 and a 1 year high of $1.97.

Algorhythm (NASDAQ:RIME) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.95) earnings per share for the quarter. The firm had revenue of $2.44 million for the quarter.

Algorhythm Company Profile

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.