Singing Machine (NASDAQ:MICS) Trading Down 9.2%

The Singing Machine Company, Inc. (NASDAQ:MICS)’s share price fell 9.2% during mid-day trading on Tuesday . The stock traded as low as $1.04 and last traded at $1.08. 407,894 shares traded hands during trading, an increase of 57% from the average session volume of 260,562 shares. The stock had previously closed at $1.19.

Singing Machine Stock Performance

The stock has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.02.

Singing Machine (NASDAQ:MICS) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.37) EPS for the quarter. The business had revenue of $2.43 million for the quarter.

Institutional Investors Weigh In On Singing Machine

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

Singing Machine Company Profile

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.