Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Decreases By 30.6%

SRM Entertainment, Inc. (NASDAQ:SRM) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 320,400 shares, a decrease of 30.6% from the February 28th total of 461,600 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 6,020,000 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On SRM Entertainment

An institutional investor recently bought a new position in SRM Entertainment stock. Two Sigma Securities LLC bought a new stake in shares of SRM Entertainment, Inc. (NASDAQ:SRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,187 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned approximately 0.40% of SRM Entertainment at the end of the most recent quarter. Institutional investors and hedge funds own 1.58% of the company’s stock.

SRM Entertainment Stock Down 4.9 %

NASDAQ SRM traded down $0.02 during trading on Friday, reaching $0.45. 128,495 shares of the company’s stock traded hands, compared to its average volume of 2,393,117. The company’s 50 day simple moving average is $0.46 and its two-hundred day simple moving average is $0.60. SRM Entertainment has a 12-month low of $0.30 and a 12-month high of $1.85. The firm has a market cap of $4.69 million, a price-to-earnings ratio of -1.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.95 and a quick ratio of 2.06.

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.