Form 4: Algorhythm Holdings Director Milton C. Ault III Sells Shares in Open Market

Milton C. Ault III, a Director at Algorhythm Holdings, Inc., sold shares of common stock in open market transactions on September 20 and 23, 2024.

Summary

• On September 20, 2024, Milton C. Ault III, a Director at Algorhythm Holdings, Inc. (RIME), sold 200 shares of common stock at a weighted average price of $0.6033.
• The price range for the September 20th sale was between $0.60 and $0.6072 per share.
• On September 23, 2024, Ault sold 17,733 shares of common stock at a weighted average price of $0.5813.
• The price range for the September 23rd sale was between $0.58 and $0.59 per share.
• Following these transactions, Ault indirectly owns 1,649,159 shares through Ault Lending, LLC.
• Ault Lending, LLC is a wholly-owned subsidiary of Hyperscale Data, Inc. (HSD).
• Mr. Ault is the Executive Chairman of HSD and has voting and investment power over the securities held by Ault Lending.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the director selling shares, which could indicate a lack of confidence in the company's near-term prospects. However, the amounts are relatively small.

Negatives

• A director is selling shares, which could be interpreted negatively by the market.

Risks

• Continued selling by the director could put downward pressure on the stock price.

Industry Context

This is a routine disclosure of insider trading activity. It's important to monitor such filings to understand the sentiment of company insiders.

Stakeholder Impact

• Shareholders may react to the news of the director selling shares.

Key Dates

Keywords

Algorhythm Holdings, RIME, Milton C. Ault III, share sale, Form 4, Ault Lending, Hyperscale Data, HSD, director, open market