SRM Entertainment, Inc. (NASDAQ:SRM) Short Interest Up 501.7% in September

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

SRM Entertainment Stock Performance

Shares of NASDAQ SRM traded down $0.01 during trading on Friday, hitting $0.72. The company had a trading volume of 8,030 shares, compared to its average volume of 89,319. The company has a market cap of $7.53 million and a P/E ratio of -1.58. The business’s 50-day moving average is $0.89 and its 200 day moving average is $1.18. SRM Entertainment has a 52 week low of $0.61 and a 52 week high of $3.49.

SRM Entertainment (NASDAQ:SRM) last released its earnings results on Monday, August 12th. The company reported ($0.05) earnings per share 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.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in SRM Entertainment stock. Virtu Financial LLC bought a new position in SRM Entertainment, Inc. (NASDAQ:SRM) in the first quarter, according to the company in its most recent 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 as of its most recent SEC filing. 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.