Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Drops By 29.7%

Posted by Doug Wharley on Sep 15th, 2024

SRM Entertainment, Inc. (NASDAQ:SRM – Get Free Report) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 23,400 shares, a decrease of 29.7% from the August 15th total of 33,300 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 103,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SRM Entertainment stock. Virtu Financial LLC bought a new position in SRM Entertainment, Inc. (NASDAQ:SRM – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,046 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned approximately 0.18% of SRM Entertainment as of its most recent SEC filing. Hedge funds and other institutional investors own 1.58% of the company’s stock.

SRM Entertainment Price Performance

Shares of SRM Entertainment stock remained flat at $0.69 during trading on Friday. 95,681 shares of the stock traded hands, compared to its average volume of 203,106. SRM Entertainment has a 1-year low of $0.61 and a 1-year high of $3.49. The stock’s 50-day simple moving average is $0.97 and its 200 day simple moving average is $1.20. The stock has a market cap of $7.05 million and a P/E ratio of -1.54.

SRM Entertainment (NASDAQ:SRM – Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.05) earnings per share for the quarter. SRM Entertainment had a negative return on equity of 118.78% and a negative net margin of 92.34%. The firm had revenue of $1.51 million for the quarter.

SRM Entertainment Company Profile

(Get Free Report)

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.