SRM Entertainment, Inc. (NASDAQ:SRM) Sees Significant Growth in Short Interest

SRM Entertainment, Inc. (NASDAQ:SRM) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 314,400 shares, a growth of 47.7% from the May 15th total of 212,900 shares. Based on an average trading volume of 425,500 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in SRM Entertainment stock. Two Sigma Securities LLC purchased a new stake in SRM Entertainment, Inc. (NASDAQ:SRM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,187 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned approximately 0.40% of SRM Entertainment as of its most recent SEC filing. 1.58% of the stock is currently owned by hedge funds and other institutional investors.

SRM Entertainment Trading Down 15.9%

NASDAQ:SRM opened at $7.73 on Wednesday. The stock has a fifty day moving average price of $0.83 and a two-hundred day moving average price of $0.63. The stock has a market capitalization of $133.27 million, a price-to-earnings ratio of -30.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.59 and a current ratio of 5.24. SRM Entertainment has a 1 year low of $0.26 and a 1 year high of $10.84.

SRM Entertainment (NASDAQ:SRM) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter. SRM Entertainment had a negative net margin of 74.56% and a negative return on equity of 78.96%. The firm had revenue of $1.09 million during the quarter.

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.