Bonk (NASDAQ:BNKK) Shares Down 8.1% – Here’s Why

Bonk, Inc. (NASDAQ:BNKK)’s share price dropped 8.1% during trading on Tuesday . The company traded as low as $2.34 and last traded at $2.38. Approximately 26,399 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 63,902 shares. The stock had previously closed at $2.59.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BNKK. Weiss Ratings restated a “sell (d-)” rating on shares of Bonk in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Bonk to a “sell” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Bonk has an average rating of “Sell”.

Bonk Trading Down 8.1%

The company has a market capitalization of $12.52 million, a price-to-earnings ratio of -0.31 and a beta of 1.93. The firm’s fifty day moving average is $3.69.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp bought a new stake in shares of Bonk during the fourth quarter worth $33,000. Steward Partners Investment Advisory LLC bought a new stake in Bonk in the fourth quarter valued at approximately $37,000. Jane Street Group LLC acquired a new stake in Bonk during the 4th quarter worth $96,000. Finally, Geode Capital Management LLC acquired a new position in Bonk in the fourth quarter valued at about $128,000. 12.55% of the stock is currently owned by institutional investors.

About Bonk

Safety Shot, Inc, a wellness and functional beverage company, engages in the research and development of over-the-counter products and intellectual property. Its products pipeline includes Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women’s sexual wellness; NoStingz, a jellyfish sting prevention sunscreen; and JW-110 for the treatment of atopic dermatitis/eczema. The company primarily sell its products through third-party physical retail stores and partners. The company was formerly known as Jupiter Wellness, Inc and changed its name to Safety Shot, Inc in September 2023.