CEA Industries Inc. (NASDAQ:BNC) Shares Shorted: Short Interest Up 179.2% in September

Key Points

• Short interest surged 179.2% to 2.74 million shares as of September 15, representing 6.8% of CEA Industries’ outstanding shares.
• Analyst sentiment remains cautious: Wall Street Zen downgraded the stock to “strong sell,” while Weiss Ratings upgraded it to “hold”; the overall consensus rating is “Hold.”
• Shares recently traded at $6.11, within a 12-month range of $1.84 to $12.00. The company reported $6.20 in quarterly EPS on $7.35 million in revenue and has attracted new or increased positions from several institutional investors.

CEA Industries Inc. (NASDAQ:BNC - Get Free Report) saw a significant growth in short interest in 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. Currently, 6.8% of the company's shares are short sold. Based on an average daily volume of 8,377,677 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BNC shares. Wall Street Zen downgraded CEA Industries from a "sell" rating to a "strong sell" rating in a research note on Saturday, September 19th. Weiss Ratings upgraded shares of CEA Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, September 14th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, CEA Industries currently has an average rating of "Hold".

CEA Industries Price Performance

Shares of CEA Industries stock traded down $0.15 during trading hours on Friday, hitting $6.11. The company's stock had a trading volume of 705,296 shares, compared to its average volume of 5,443,796. CEA Industries has a 12 month low of $1.84 and a 12 month high of $12.00. The stock has a 50 day moving average of $3.55 and a 200 day moving average of $3.08. The company has a market capitalization of $251.55 million, a PE ratio of 1.10 and a beta of 0.61.

CEA Industries (NASDAQ:BNC - Get Free Report) last announced its earnings results on Tuesday, June 23rd. The company reported $6.20 earnings per share for the quarter. CEA Industries had a net margin of 362.26% and a return on equity of 64.29%. The firm had revenue of $7.35 million during the quarter.

Institutional Trading of CEA Industries

Institutional investors and hedge funds have recently modified their holdings of the business. BTG Pactual Asset Management US LLC bought a new position in shares of CEA Industries during the 2nd quarter valued at $1,077,000. Saba Capital Management L.P. increased its stake in CEA Industries by 3.5% in the 1st 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 during the last quarter. Weiss Asset Management LP purchased a new stake in shares of CEA Industries during the 1st quarter worth approximately $43,000. Aristides Capital LLC bought a new position in shares of CEA Industries during the 4th quarter valued at approximately $187,000. Finally, Arrington Capital Management LLC purchased a new position in shares of CEA Industries in the fourth quarter valued at $2,058,000.

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.

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