Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) Sees Significant Growth in Short Interest

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,800,000 shares, an increase of 122.6% from the September 30th total of 808,800 shares. Based on an average daily trading volume, of 21,740,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 5.7% of the company’s shares are sold short. Currently, 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 21,740,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Aspire Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in ASBP. Procyon Advisors LLC raised its holdings in Aspire Biopharma by 558.3% in the second quarter. Procyon Advisors LLC now owns 648,411 shares of the company’s stock valued at $174,000 after acquiring an additional 549,911 shares in the last quarter. Crewe Advisors LLC increased its holdings in Aspire Biopharma by 100.0% in the second quarter. Crewe Advisors LLC now owns 626,854 shares of the company’s stock valued at $169,000 after buying an additional 313,427 shares during the last quarter. Optivise Advisory Services LLC boosted its holdings in shares of Aspire Biopharma by 120.9% in the 2nd quarter. Optivise Advisory Services LLC now owns 235,106 shares of the company’s stock valued at $63,000 after buying an additional 128,660 shares during the period. Finally, Jane Street Group LLC boosted its stake in Aspire Biopharma by 625.8% in the second quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock valued at $41,000 after acquiring an additional 131,533 shares during the period. Institutional investors own 19.17% of the company’s stock.

Aspire Biopharma Stock Performance

NASDAQ:ASBP opened at $0.38 on Friday. The firm has a market capitalization of $18.64 million, a PE ratio of -0.82 and a beta of 0.67. Aspire Biopharma has a one year low of $0.20 and a one year high of $15.80. The stock has a 50-day simple moving average of $0.41.

Aspire Biopharma (NASDAQ:ASBP) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Aspire Biopharma to a “strong sell” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Aspire Biopharma in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

About Aspire Biopharma

Aspire Biopharma Holdings, Inc, early-stage biopharmaceutical company, engages in developing and marketing of disruptive technology for delivery mechanisms for do no harm drugs in the United States. The company provides Sublingual Aspirin Product, which addresses cardiology emergencies and pain management.