Algorhythm (NASDAQ:RIME) Trading Down 4.1% – Here’s What Happened

Shares of Algorhythm Holdings, Inc. (NASDAQ:RIME) were down 4.1% during trading on Friday . The company traded as low as $2.26 and last traded at $2.33. Approximately 91,613 shares changed hands during trading, a decline of 71% from the average daily volume of 316,377 shares. The stock had previously closed at $2.43.

Algorhythm Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.87 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $2.39 and a 200 day moving average of $27.27.

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.