SRM Entertainment, Inc. (NASDAQ:SRM) Sees Large Increase in Short Interest

SRM Entertainment, Inc. (NASDAQ:SRM) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 314,400 shares, an increase of 47.7% from the May 15th total of 212,900 shares. Based on an average trading volume of 425,500 shares, the short-interest ratio is presently 0.7 days. Currently, 3.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SRM Entertainment stock. Anson Funds Management LP bought a new position in SRM Entertainment, Inc. (NASDAQ:SRM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC. Institutional investors and hedge funds own 1.58% of the company’s stock.

SRM Entertainment Trading Up 533.8%

Shares of SRM stock opened at $9.19 on Tuesday. SRM Entertainment has a 1 year low of $0.26 and a 1 year high of $10.86. The firm has a fifty day moving average price of $0.68 and a 200-day moving average price of $0.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.95 and a quick ratio of 2.06. The company has a market cap of $158.47 million, a price-to-earnings ratio of -22.41 and a beta of 1.21.

SRM Entertainment (NASDAQ:SRM) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter. SRM Entertainment had a negative net margin of 89.62% and a negative return on equity of 118.58%. The business had revenue of $1.09 million for the quarter.

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.