Maker

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Koss

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<p class="has-drop-cap">Koss Corporation (NASDAQ: KOSS) stock has been exhibiting the <a href="https://tokenist.com/investing/meme-stocks/" rel="dofollow" class="deco-link">behavior of a meme stock</a> in the best way possible, but there are no signs of a dump yet. Over the last three months, KOSS shares have now returned over 500% of shareholder value, going from penny stock territory of $2.5 to present price of $15.36 per share at press time.&nbsp;</p> 
<p>Most gains of over 250% happened <a href="https://tokenist.com/headphone-maker-kosss-stock-surges-250-in-echo-of-2021-meme-stock-frenzy/" rel="dofollow" class="deco-link">since Wednesday</a>, July 3rd, making it the next big meme stock. Compared to the 65-day trading volume of 1.93 million, KOSS stock churned 70 million trading volume that day. Out of the 5.22 million public floats, only 7.74% is shorted.</p> 
<p>The question is, does the headphone maker warrant such interest, and how did it arise?</p> 
<h3 id="what-is-koss-bottom-line">What is Koss’ Bottom Line?</h3> 
<p>Although less known than Sennheiser, Audio-Technica<span style="box-sizing: border-box; margin: 0px; padding: 0px;">, or Beyerdynamic, Koss covers the&nbsp;<a href="https://koss.com/collections/top-10-best-koss-wireless-headphones-for-2024/headphone-type_on-ear" target="_blank" rel="noopener nofollow">entire spectrum of customer segments</a>. The Wisconsin company sources high-quality, budget-friendly, professional, and audiophile components to deliver over-ear, on-ear, earbuds, wireless headphones,</span> and accessories.</p> 
<p>With a 60-year history, Koss was the first audio company to commercialize the high-end electrostatic (ES) series in 1968. Various brands have received high praise over the decades, often found across RadioShack’s consumer electronics retail chain.</p> 
<p>Koss exited 2023 with $13 million in net sales, 26% less than in the previous fiscal year. However, Koss’s net income rose significantly during the period, from $1.26 million in 2022 to $8.3 million in 2023. A glance at Amazon reviews of Koss headphones tells a story of 4.5 stars out of 5 on average across the product line.</p> 
<p>Michael J. Koss, the son of founder John C. Koss, noted that pricing on the higher-end products offset the inflationary and labor costs despite a near-4% decline in gross margins. In May’s Q1 earnings ending March, Koss reported a 22% decrease in net sales from the year-ago quarter.</p> 
<p>This leaves the company’s price-to-earnings (P/E) ratio in dubious waters. However, Koss has ample runway ahead with a price-to-book (P/B) ratio of 3.16. As of the <a aria-label=" (opens in a new tab)" href="https://investors.koss.com/node/10931/html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Q1 report</a>, the company’s cash (and equivalents) reserves are effectively the same as in the year-ago quarter, at $2.9 million. At the same time, Koss’ total liabilities decreased from $7.28 million to $6.48 million.</p> 
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<h3 id="koss-meme-stock-speculation">Koss Meme Stock Speculation</h3> 
<p>Like GameStop (NASDAQ: GME) and AMC (NASDAQ: AMC), many attempt to decipher the meaning behind Keith Gill’s meme-loaded account on X (Twitter) under Roaring Kitty. As of yet, there is not a single mention of Koss on his entire timeline.&nbsp;</p> 
<p>Nor did he mention audiophiles, headphones, or any number of derivations.</p> 
<p>Unlike Chewy Inc. (NASDAQ: CHWY), which could be portrayed as a reference via Gill’s dog image on June 27th, Koss-related references in meme format are also lacking. In other words, retail interest in KOSS shares is riding on its <a href="https://tokenist.com/investing/penny-stock-patterns/" rel="dofollow" class="deco-link">penny stock potential</a>, which doesn’t take much-organized poking.</p> 
<p>According to Yahoo Finance data, insiders hold 45.34% of KOSS stock. Only 11.86% of the public float is held by institutions, of which the top three are familiar names: Vanguard Group (2.84%), Dimensional Fund Advisors (1.47%), and Blackrock (0.67%).&nbsp;</p> 
<p><span style="box-sizing: border-box; margin: 0px; padding: 0px;">Koss CEO Michael J. Koss&nbsp;<a href="https://investors.koss.com/node/10946/html" target="_blank" rel="noopener nofollow">made the latest insider move on May 30th</a>, selling 15,000 shares. At the time, the&nbsp;</span>KOSS stock price was $4.62 per share.&nbsp;</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you think the Koss brand will now become as popular as Audio-Technica? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/why-is-headphone-maker-koss-stock-surging-this-week/">Why is Headphone Maker KOSS Stock Surging this Week?</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Why is Headphone Maker KOSS Stock Surging this Week?

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