Breaking Short Interest: What’s SINGING MACHINE COMPAN (OTCMKTS:SMDM) Upside After This Short Interest Decrease?

November 16, 2016 - By Richard Conner   ·   0 Comments

Breaking Short Interest: What's SINGING MACHINE COMPAN (OTCMKTS:SMDM) Upside After This Short Interest Decrease?

The stock of SINGING MACHINE COMPAN (OTCMKTS:SMDM) registered a decrease of 62.07% in short interest. SMDM’s total short interest was 1,100 shares in November as published by FINRA. Its down 62.07% from 2,900 shares, reported previously. With 16,500 shares average volume, it will take short sellers 0 days to cover their SMDM’s short positions. The stock closed at $0.47 during the last session. It is down 62.07% since April 14, 2016 and is uptrending. It has outperformed by 57.38% the S&P500.

The Singing Machine Company, Inc. is engaged in the development, production, marketing and distribution of consumer karaoke audio equipment, accessories, music and audio consumer electronic products. The company has a market cap of $18.54 million. The Firm contracts for the manufacturing of all its electronic equipment products with factories located in China. It has a 10.42 P/E ratio. It has also collaborated with a music content service well-known provider that allows the Company to offer karaoke downloads and streaming subscription services.

SMDM Company Profile

The Singing Machine Company, Inc., incorporated on February 15, 1994, is engaged in the development, production, marketing and distribution of consumer karaoke audio equipment, accessories, music and audio consumer electronic products. The Firm contracts for the manufacturing of all its electronic equipment products with factories located in China. It has also collaborated with a music content service well-known provider that allows the Company to offer karaoke downloads and streaming subscription services. This collaboration provides the Company with a distribution platform for digital music sales and subscriptions and music sales to customers. The Company’s music distribution system enables download or stream selections from content library. The Firm offers karaoke music through its Singing Machine Karaoke Download Store, Community, and iPhone/iPad Application.

More notable recent Singing Machine Company Inc (OTCMKTS:SMDM) news were published by: Finance.Yahoo.com which released: “Singing Machine Introduces the Remix — The Latest Hi-Def Download Karaoke System” on September 15, 2016, also Globenewswire.com with their article: “Singing Machine(R) Announces All New Digital Line of Karaoke Products for Fall …” published on July 16, 2015, Marketwired.com published: “Singing Machine To Announce 2nd Quarter Earnings Conference Call” on November 09, 2016. More interesting news about Singing Machine Company Inc (OTCMKTS:SMDM) were released by: Prnewswire.com and their article: “Singing Machine® Announces Homeâ„¢ 2.0, the Next Generation Bluetooth Speaker …” published on December 02, 2014 as well as Marketwired.com‘s news article titled: “Singing Machine to Bring Jobs Back to United States; Moves Call Center Onshore” with publication date: June 21, 2016.

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By Richard Conner


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