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

SRM Entertainment, Inc. (NASDAQ:SRM) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 23,400 shares, a drop of 29.7% from the August 15th total of 33,300 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 103,000 shares, the short-interest ratio is presently 0.2 days.

SRM Entertainment Price Performance

Shares of NASDAQ:SRM traded up $0.02 during trading on Monday, reaching $0.71. 9,885 shares of the company’s stock traded hands, compared to its average volume of 90,051. The stock has a market capitalization of $7.26 million and a P/E ratio of -1.54. The company has a 50 day moving average of $0.97 and a 200-day moving average of $1.20. SRM Entertainment has a 12 month low of $0.61 and a 12 month high of $3.49.

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

Institutional Investors Weigh In On SRM Entertainment

An institutional investor recently bought a new position in SRM Entertainment stock. Virtu Financial LLC purchased a new position in SRM Entertainment, Inc. (NASDAQ:SRM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,046 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.18% of SRM Entertainment as of its most recent filing with the Securities & Exchange Commission. 1.58% of the stock is owned by hedge funds and other institutional investors.

About SRM Entertainment

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.