SRM Entertainment, Inc. (NASDAQ:SRM) Sees Significant Increase in Short Interest

SRM Entertainment, Inc. (NASDAQ:SRMGet Free Report) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 237,300 shares, a growth of 157.4% from the October 15th total of 92,200 shares. Based on an average daily trading volume, of 600,600 shares, the days-to-cover ratio is presently 0.4 days. Currently, 14.4% of the company’s stock are short sold.

Institutional Trading of SRM Entertainment

A hedge fund recently bought a new stake in SRM Entertainment stock. Virtu Financial LLC bought a new stake in SRM Entertainment, Inc. (NASDAQ:SRMFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,046 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned about 0.18% 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 down $0.01 during trading on Wednesday, hitting $0.57. 60,524 shares of the company traded hands, compared to its average volume of 230,707. The stock’s 50-day simple moving average is $0.74 and its two-hundred day simple moving average is $0.99. SRM Entertainment has a 1 year low of $0.55 and a 1 year high of $3.49.

SRM Entertainment (NASDAQ:SRMGet Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.05) earnings per share (EPS) 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 during the quarter.

About SRM Entertainment

(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.

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