SRM Entertainment, Inc. (NASDAQ:SRM – Get Free Report) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 81,200 shares, a decline of 24.7% from the June 30th total of 107,900 shares. Based on an average daily trading volume, of 56,200 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.0% of the company’s stock are sold short.
Institutional Trading of SRM Entertainment
A hedge fund recently bought a new stake in SRM Entertainment stock. Total Investment Management Inc. purchased a new position in SRM Entertainment, Inc. (NASDAQ:SRM – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 83,543 shares of the company’s stock, valued at approximately $129,000. Total Investment Management Inc. owned about 0.86% of SRM Entertainment at the end of the most recent reporting period. 1.58% of the stock is currently owned by hedge funds and other institutional investors.
SRM Entertainment Stock Performance
Shares of SRM stock traded down $0.03 on Friday, reaching $1.25. 46,771 shares of the company’s stock traded hands, compared to its average volume of 69,359. SRM Entertainment has a 12-month low of $0.95 and a 12-month high of $6.01. The company has a market capitalization of $12.70 million and a P/E ratio of -2.78. The business’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.38.
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.
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