Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) Short Interest Update

Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL – Get Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 210,100 shares, a decrease of 42.5% from the April 30th total of 365,600 shares. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.5% of the company’s stock are short sold.

Separately, Maxim Group began coverage on Kaival Brands Innovations Group in a research report on Friday, April 8th. They issued a “buy” rating and a $3.00 price objective on the stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KAVL. Citadel Advisors LLC bought a new position in shares of Kaival Brands Innovations Group during the 4th quarter valued at $39,000. Virtu Financial LLC lifted its holdings in shares of Kaival Brands Innovations Group by 155.5% during the 4th quarter. Virtu Financial LLC now owns 71,670 shares of the company’s stock valued at $53,000 after buying an additional 43,622 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kaival Brands Innovations Group by 2,362.1% during the 1st quarter. Vanguard Group Inc. now owns 763,185 shares of the company’s stock valued at $1,083,000 after buying an additional 732,188 shares during the period. Northern Trust Corp bought a new position in Kaival Brands Innovations Group in the 1st quarter worth $37,000. Finally, State Street Corp bought a new position in Kaival Brands Innovations Group in the 1st quarter worth $32,000.

Shares of NASDAQ KAVL traded up $0.18 during midday trading on Friday, hitting $1.14. 520,979 shares of the stock traded hands, compared to its average volume of 6,815,919. The stock has a 50-day moving average price of $1.20. Kaival Brands Innovations Group has a one year low of $0.52 and a one year high of $17.00.

Kaival Brands Innovations Group (NASDAQ:KAVL – Get Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $2.84 million during the quarter.

About Kaival Brands Innovations Group (Get Rating)

Kaival Brands Innovations Group, Inc distributes electronic nicotine delivery systems (ENDS Products) and related components in the Unites States. The company offers Bidi Stick, a disposable and tamper-resistant ENDS Product in various flavor options; and Bidi Pouch, a tobacco-free nicotine formulation, which contains natural fibers and a chew-base filler in different flavors.

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