Bolt Projects (NASDAQ:BSLK) Shares Down 3.1% – Time to Sell?

Bolt Projects Holdings, Inc. (NASDAQ:BSLK) fell 3.1% during mid-day trading on Tuesday . The stock traded as low as $2.09 and last traded at $2.17. 46,576 shares were traded during mid-day trading, a decline of 84% from the average session volume of 290,494 shares. The stock had previously closed at $2.24.

Bolt Projects Price Performance

The firm’s fifty day simple moving average is $4.57 and its 200-day simple moving average is $6.67.

Bolt Projects (NASDAQ:BSLK) last posted its earnings results on Monday, May 12th. The company reported ($3.00) earnings per share (EPS) for the quarter. The company had revenue of $0.17 million during the quarter.

Insider Transactions at Bolt Projects

In other news, CFO Randy Befumo acquired 29,500 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $2.28 per share, with a total value of $67,260.00. Following the completion of the transaction, the chief financial officer now directly owns 51,763 shares in the company, valued at approximately $118,019.64. This represents a 132.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 4,727 shares of company stock valued at $27,791 over the last three months. 16.00% of the stock is currently owned by insiders.

Institutional Trading of Bolt Projects

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Bolt Projects by 307.5% in the 4th quarter. Geode Capital Management LLC now owns 58,838 shares of the company’s stock valued at $29,000 after acquiring an additional 44,400 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Bolt Projects in the fourth quarter valued at $27,000. Finally, AREX Capital Management LP acquired a new position in Bolt Projects in the fourth quarter valued at $376,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Bolt Projects

Bolt Projects Holdings, Inc operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.