Safety Shot, Inc. (NASDAQ:SHOT) Short Interest Down 49.5% in August

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) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 2,130,000 shares, a drop of 49.5% from the August 15th total of 4,220,000 shares. Based on an average daily trading volume, of 7,240,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 1.8% of the shares of the company are sold short. Approximately 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 7,240,000 shares, the days-to-cover ratio is currently 0.3 days.

Safety Shot Stock Down 1.4%

Shares of NASDAQ SHOT traded down $0.01 during mid-day trading on Friday, reaching $0.38. The company had a trading volume of 3,415,423 shares, compared to its average volume of 3,528,050. Safety Shot has a one year low of $0.23 and a one year high of $1.77. The business's 50-day simple moving average is $0.58 and its 200 day simple moving average is $0.47.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Safety Shot in the first quarter worth $59,000. Jane Street Group LLC increased its position in shares of 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 purchasing an additional 81,720 shares during the period. Finally, Tyche Wealth Partners LLC increased its position in shares of 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 purchasing an additional 50,000 shares during the period. Institutional investors own 12.55% of the company's stock.

Safety Shot Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.