Short Interest in Safety Shot, Inc. (NASDAQ:SHOT) Decreases By 49.5%

Key Points

• Safety Shot, Inc. experienced a 49.5% drop in short interest in August, falling from 4,220,000 to 2,130,000 shares, representing approximately 1.8% of the company's stock.
• As of mid-day trading, the company's stock was down 1.4%, trading at $0.38, with a one-year trading range between $0.23 and $1.77.
• Wall Street analysts have raised Safety Shot's rating from "sell" to "hold," indicating a potential positive outlook for the company's future performance.

Safety Shot, Inc. (NASDAQ:SHOT - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 2,130,000 shares, a decrease of 49.5% from the August 15th total of 4,220,000 shares. Currently, 1.8% of the company's stock are sold short. Based on an average daily volume of 7,240,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 7,240,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.8% of the company's stock are sold short.

Safety Shot Stock Down 1.1%

Shares of NASDAQ:SHOT traded down $0.00 on Friday, reaching $0.31. 7,152,714 shares of the company's stock were exchanged, compared to its average volume of 3,736,850. Safety Shot has a fifty-two week low of $0.23 and a fifty-two week high of $1.46. The business's 50-day moving average is $0.58 and its two-hundred day moving average is $0.47.

Safety Shot (NASDAQ:SHOT - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $0.45 million for the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Safety Shot from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th.

Institutional Trading of Safety Shot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in Safety Shot by 397.7% in the fourth quarter. Jane Street Group LLC now owns 102,267 shares of the company's stock worth $74,000 after buying an additional 81,720 shares during the period. XTX Topco Ltd acquired a new stake in Safety Shot in the first quarter worth $59,000. Finally, Tyche Wealth Partners LLC increased its position in Safety Shot by 142.9% in the second quarter. Tyche Wealth Partners LLC now owns 85,000 shares of the company's stock worth $28,000 after buying an additional 50,000 shares during the period. 12.55% of the stock is currently owned by institutional investors and hedge funds.

About Safety Shot

Safety Shot, Inc, a wellness and functional beverage company, researches and develops over-the-counter products and intellectual property. The company offers Safety Shot Beverage, an over-the-counter drink that lowers blood alcohol content. It also develops Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women's sexual wellness; and NoStingz, a jellyfish sting prevention sunscreen.