Short Interest in Turbo Energy, S.A. (NASDAQ:TURB) Drops By 35.4%

Turbo Energy, S.A. (NASDAQ:TURB) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 547,541 shares, a decrease of 35.4% from the June 15th total of 847,816 shares. Based on an average daily volume of 155,544 shares, the days-to-cover ratio is currently 3.5 days.

Hedge Funds Weigh In On Turbo Energy

An institutional investor recently bought a new position in Turbo Energy stock. XTX Topco Ltd acquired a new position in shares of Turbo Energy, S.A. (NASDAQ:TURB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,301 shares of the company’s stock, valued at approximately $26,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Turbo Energy to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Turbo Energy in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Turbo Energy has an average rating of “Sell”.

Turbo Energy Stock Up 1.4%

Shares of TURB opened at $1.50 on Friday. Turbo Energy has a 1 year low of $0.57 and a 1 year high of $20.45. The business’s 50 day simple moving average is $1.44 and its 200-day simple moving average is $1.58.

Turbo Energy (NASDAQ:TURB) last posted its earnings results on Saturday, May 16th. The company reported $0.03 earnings per share for the quarter. The business had revenue of $8.48 million during the quarter.

Turbo Energy Company Profile

Turbo Energy, SA designs, develops, and distributes equipment for the generation, management, and storage of photovoltaic energy in Spain, rest of Europe, and internationally. The company offers lithium-ion batteries; inverters; photovoltaic modules; Go Solar, a portable photovoltaic product; and Sunbox, an AI based software system that monitors the generation, use, and management of photovoltaic energy. It is also involved in the acquisition, distribution, and sale of electrical and electronic materials for the development of renewable energy projects, such as solar panels, inverters, chargers, regulators, batteries, and structures.