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

SRM Entertainment, Inc. (NASDAQ:SRM) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 193,400 shares, a drop of 18.5% from the October 31st total of 237,300 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 637,900 shares, the short-interest ratio is currently 0.3 days.

SRM Entertainment Stock Performance

SRM stock remained flat at $0.64 during midday trading on Friday. The company’s stock had a trading volume of 60,558 shares, compared to its average volume of 231,625. The stock’s 50 day moving average is $0.70 and its two-hundred day moving average is $0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.06 and a current ratio of 2.95. The company has a market cap of $6.66 million, a P/E ratio of -1.56 and a beta of 1.77. SRM Entertainment has a 52-week low of $0.55 and a 52-week high of $3.20.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SRM Entertainment stock. Virtu Financial LLC bought a new stake in SRM Entertainment, Inc. (NASDAQ:SRM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 1.58% of the company’s stock.

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.