Safety Shot (NASDAQ:SHOT) Trading 5.4% Higher – Should You Buy?

Safety Shot, Inc. (NASDAQ:SHOT)’s stock price traded up 5.4% during mid-day trading on Tuesday . The stock traded as high as $0.28 and last traded at $0.27. 10,277,735 shares changed hands during trading, an increase of 45% from the average session volume of 7,083,380 shares. The stock had previously closed at $0.25.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Safety Shot from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th.

Safety Shot Stock Performance

The company’s 50-day simple moving average is $0.54 and its 200 day simple moving average is $0.45.

Safety Shot (NASDAQ:SHOT) last released its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $0.45 million during the quarter.

Hedge Funds Weigh In On Safety Shot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tyche Wealth Partners LLC grew its position in Safety Shot by 142.9% during the second quarter. Tyche Wealth Partners LLC now owns 85,000 shares of the company’s stock valued at $28,000 after buying an additional 50,000 shares during the period. XTX Topco Ltd purchased a new position in Safety Shot in the first quarter valued at about $59,000. Finally, Jane Street Group LLC grew its position in shares of Safety Shot by 397.7% during the 4th quarter. Jane Street Group LLC now owns 102,267 shares of the company’s stock valued at $74,000 after acquiring an additional 81,720 shares during the period. 12.55% of the stock is owned by hedge funds and other institutional investors.

About Safety Shot

Safety Shot, Inc, a wellness and functional beverage company, researches and develops over-the-counter products and intellectual property. The company offers Safety Shot Beverage, an over-the-counter drink that lowers blood alcohol content. It also develops Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women’s sexual wellness; and NoStingz, a jellyfish sting prevention sunscreen.