Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Decreases By 54.8%

SRM Entertainment, Inc. (NASDAQ:SRM) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 107,400 shares, a drop of 54.8% from the March 31st total of 237,800 shares. Based on an average daily volume of 5,800,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.1% of the company’s shares are sold short.

Institutional Investors Weigh In On SRM Entertainment

A hedge fund recently bought a new stake in SRM Entertainment stock. Anson Funds Management LP bought a new stake in SRM Entertainment, Inc. (NASDAQ:SRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 683,102 shares of the company’s stock, valued at approximately $430,000. Anson Funds Management LP owned 6.56% of SRM Entertainment as of its most recent SEC filing. 1.58% of the stock is currently owned by institutional investors.

SRM Entertainment Trading Down 1.6 %

NASDAQ SRM traded down $0.01 during trading hours on Monday, reaching $0.39. The company had a trading volume of 161,514 shares, compared to its average volume of 2,423,905. The company has a current ratio of 2.95, a quick ratio of 2.06 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.71 million, a P/E ratio of -0.95 and a beta of 0.54. The stock has a 50-day moving average of $0.42 and a 200 day moving average of $0.55. SRM Entertainment has a 1-year low of $0.26 and a 1-year high of $1.66.

About SRM Entertainment

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.