SRM Entertainment, Inc. (NASDAQ:SRM) Sees Large Decline in Short Interest

SRM Entertainment, Inc. (NASDAQ:SRM) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 193,400 shares, a decline of 18.5% from the October 31st total of 237,300 shares. Based on an average daily trading volume, of 637,900 shares, the days-to-cover ratio is presently 0.3 days. Approximately 3.8% of the shares of the company are sold short.

SRM Entertainment Price Performance

NASDAQ SRM remained flat at $0.64 during trading on Friday. The company’s stock had a trading volume of 60,558 shares, compared to its average volume of 231,625. The firm’s fifty day simple moving average is $0.70 and its 200 day simple moving average is $0.94. The firm has a market capitalization of $6.66 million, a PE ratio of -1.56 and a beta of 1.77. The company has a quick ratio of 2.06, a current ratio of 2.95 and a debt-to-equity ratio of 0.46. SRM Entertainment has a 1 year low of $0.55 and a 1 year high of $3.20.

Institutional Investors Weigh In On SRM Entertainment

An institutional investor recently bought a new position in SRM Entertainment stock. Virtu Financial LLC purchased a new stake in SRM Entertainment, Inc. (NASDAQ:SRM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,046 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 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.

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.