Singing Machine (NASDAQ:MICS) Stock Price Up 5.6%

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

Singing Machine Price Performance

The stock has a fifty day simple moving average of $0.71 and a two-hundred 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) earnings per share for the quarter. The company had revenue of $2.44 million for the quarter.

Institutional Trading of Singing Machine

A hedge fund recently bought a new stake in Singing Machine stock. Cable Car Capital LLC purchased a new position in The Singing Machine Company, Inc. (NASDAQ:MICS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 155,001 shares of the company’s stock, valued at approximately $157,000. Singing Machine comprises about 0.2% of Cable Car Capital LLC’s holdings, making the stock its 29th largest holding. Cable Car Capital LLC owned about 3.67% of Singing Machine at the end of the most recent reporting period.

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.