CEA Industries Inc. (NASDAQ:BNC) Short Interest Update

CEA Industries Inc. (NASDAQ:BNC) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 2,742,941 shares, a growth of 179.2% from the August 31st total of 982,547 shares. Approximately 6.8% of the shares of the stock are sold short. Based on an average trading volume of 8,377,677 shares, the days-to-cover ratio is presently 0.3 days.

CEA Industries Price Performance

BNC stock traded down $0.15 during mid-day trading on Friday, hitting $6.11. 705,296 shares of the stock were exchanged, compared to its average volume of 5,443,796. The business has a fifty day moving average price of $3.55 and a 200 day moving average price of $3.08. CEA Industries has a 12 month low of $1.84 and a 12 month high of $12.00. The stock has a market capitalization of $251.57 million, a price-to-earnings ratio of 1.10 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of CEA Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, September 14th. Wall Street Zen lowered shares of CEA Industries from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Trading of CEA Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. raised its stake in shares of CEA Industries by 3.5% during the first quarter. Saba Capital Management L.P. now owns 1,143,533 shares of the company’s stock worth $3,339,000 after acquiring an additional 38,242 shares in the last quarter. Arrington Capital Management LLC purchased a new position in CEA Industries in the 4th quarter worth $2,058,000. BTG Pactual Asset Management US LLC purchased a new position in CEA Industries in the 2nd quarter worth $1,077,000. Aristides Capital LLC bought a new stake in CEA Industries in the fourth quarter worth $187,000. Finally, Weiss Asset Management LP purchased a new stake in CEA Industries during the first quarter valued at about $43,000.

CEA Industries Company Profile

CEA Industries Inc (NASDAQ:BNC) is a holding company focused on the cannabis industry. The company seeks to acquire, develop and support consumer brands and operating businesses serving cannabis markets.

Rather than focusing on a single product, CEA Industries’ strategy is centered on building a portfolio of cannabis-related businesses. Its activities may include identifying acquisition opportunities, providing strategic support to portfolio companies and developing brands intended for regulated cannabis consumers.

The company has historically been associated with controlled-environment agriculture, including technologies and products used in indoor and greenhouse cultivation.