Algorhythm Holdings, Inc. (NASDAQ:RIME) Major Shareholder Sells $266,523.00 in Stock

Algorhythm Holdings, Inc. (NASDAQ:RIME) major shareholder Milton C. Ault III sold 365,100 shares of the stock in a transaction on Monday, October 7th. The shares were 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 in the company, valued at approximately $689,850. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Algorhythm Stock Performance

Shares of RIME opened at $0.51 on Friday. Algorhythm Holdings, Inc. has a 12 month low of $0.35 and a 12 month high of $1.97.

Algorhythm (NASDAQ:RIME) last issued its earnings results on Monday, August 19th. The company reported ($0.95) EPS for the quarter. The business had revenue of $2.44 million during the quarter.

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.