Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Grows By 501.7%

SRM Entertainment, Inc. (NASDAQ:SRM) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 140,800 shares, an increase of 501.7% from the August 31st total of 23,400 shares. Based on an average daily volume of 109,400 shares, the days-to-cover ratio is presently 1.3 days. Approximately 3.3% of the shares of the stock are short sold.

SRM Entertainment Price Performance

NASDAQ SRM traded down $0.01 during mid-day trading on Friday, hitting $0.72. The stock had a trading volume of 8,030 shares, compared to its average volume of 89,319. The firm’s 50 day moving average is $0.89 and its 200 day moving average is $1.18. The stock has a market capitalization of $7.53 million and a price-to-earnings ratio of -1.58. SRM Entertainment has a twelve month low of $0.61 and a twelve month high of $3.49.

SRM Entertainment (NASDAQ:SRM) last announced 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 net margin of 92.34% and a negative return on equity of 118.78%. The business had revenue of $1.51 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in SRM Entertainment stock. Virtu Financial LLC bought a new position in shares of SRM Entertainment, Inc. (NASDAQ:SRM) in the first quarter, according to its most recent Form 13F 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 at the end of the most recent quarter. 1.58% of the stock is currently owned by institutional investors and hedge funds.

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.