Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Decreases By 60.8%

SRM Entertainment, Inc. (NASDAQ:SRM) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 31,800 shares, a decline of 60.8% from the July 15th total of 81,200 shares. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On SRM Entertainment

An institutional investor recently bought a new position in SRM Entertainment stock. Total Investment Management Inc. acquired a new stake in SRM Entertainment, Inc. (NASDAQ:SRM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter. Institutional investors own 1.58% of the company’s stock.

SRM Entertainment Stock Performance

SRM traded up $0.05 during trading on Thursday, hitting $0.70. The stock had a trading volume of 51,324 shares, compared to its average volume of 75,555. The firm has a market capitalization of $7.12 million and a P/E ratio of -1.56. The company’s 50-day moving average price is $1.09 and its 200 day moving average price is $1.30. SRM Entertainment has a twelve month low of $0.65 and a twelve month high of $4.68.

SRM Entertainment Company Profile

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.