Singing Machine (NASDAQ:MICS) Trading Up 5.6%

The Singing Machine Company, Inc. (NASDAQ:MICS)’s stock price was up 5.6% during trading on Thursday . The stock traded as high as $0.75 and last traded at $0.74. Approximately 103,029 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 256,924 shares. The stock had previously closed at $0.70.

Singing Machine Stock Performance

The stock has a 50 day simple moving average of $0.70 and a 200 day simple moving average of $0.95.

Singing Machine (NASDAQ:MICS) last released its quarterly earnings results on Monday, August 19th. The company reported ($0.95) EPS for the quarter. The company had revenue of $2.44 million during the quarter.

Hedge Funds Weigh In On Singing Machine

A hedge fund recently bought a new stake in Singing Machine stock. Cable Car Capital LLC bought a new stake in The Singing Machine Company, Inc. (NASDAQ:MICS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 155,001 shares of the company’s stock, valued at approximately $157,000. Singing Machine makes up 0.2% of Cable Car Capital LLC’s investment portfolio, making the stock its 29th biggest position. Cable Car Capital LLC owned approximately 3.67% of Singing Machine as of its most recent filing with the SEC.

About Singing Machine

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.