Singing Machine (NASDAQ:MICS) Shares Down 8.1% – Should You Sell?

The Singing Machine Company, Inc. (NASDAQ:MICS)’s stock price was down 8.1% on Monday . The stock traded as low as $0.38 and last traded at $0.39. Approximately 416,750 shares traded hands during trading, an increase of 63% from the average daily volume of 255,673 shares. The stock had previously closed at $0.42.

Singing Machine Stock Performance

The firm’s 50-day simple moving average is $0.56 and its two-hundred day simple moving average is $0.86.

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

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.