Short Interest in Stryve Foods, Inc. (NASDAQ:SNAX) Expands By 72.1%

Stryve Foods, Inc. (NASDAQ:SNAXGet Rating) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 431,700 shares, an increase of 72.1% from the March 15th total of 250,800 shares. Approximately 6.1% of the shares of the stock are short sold. Based on an average trading volume of 429,400 shares, the days-to-cover ratio is presently 1.0 days.

SNAX has been the topic of several research reports. Craig Hallum decreased their target price on Stryve Foods from $15.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, March 29th. Zacks Investment Research downgraded Stryve Foods from a “hold” rating to a “sell” rating in a research report on Friday, April 1st. Finally, Northland Securities reduced their price objective on Stryve Foods from $10.00 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 29th.

Shares of Stryve Foods stock opened at $1.11 on Friday. Stryve Foods has a one year low of $0.99 and a one year high of $10.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.66 and a current ratio of 1.27. The company has a market cap of $26.84 million, a price-to-earnings ratio of -0.65 and a beta of 0.30. The business’s 50 day moving average price is $2.15 and its 200 day moving average price is $3.52.

Stryve Foods (NASDAQ:SNAXGet Rating) last posted its earnings results on Monday, March 28th. The company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.24). During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, analysts predict that Stryve Foods will post -1.13 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of SNAX. BlackRock Inc. raised its position in Stryve Foods by 145.6% in the fourth quarter. BlackRock Inc. now owns 8,115 shares of the company’s stock valued at $32,000 after purchasing an additional 4,811 shares during the period. Northern Trust Corp acquired a new stake in shares of Stryve Foods in the fourth quarter valued at $42,000. Renaissance Technologies LLC acquired a new stake in shares of Stryve Foods in the fourth quarter valued at $56,000. State Street Corp acquired a new stake in shares of Stryve Foods in the fourth quarter valued at $58,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Stryve Foods in the fourth quarter valued at $102,000. Institutional investors own 58.47% of the company’s stock.

About Stryve Foods (Get Rating)

Stryve Foods, Inc manufactures, markets, and sells snacking products in North America. The company's product portfolio consists primarily of air-dried meat snack products marketed under the Stryve, Kalahari, Braaitime, and Vacadillos brands. It also produces meat sticks, chili bites, and meat crisps; and carne seca products.

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