Safety Shot (NASDAQ:SHOT) Stock Price Down 51% - Should You Sell?

Key Points

• Safety Shot, Inc. shares plummeted by 51% on Monday, trading as low as $0.51 and closing at $0.56, significantly below the previous close of $1.14.
• The company reported a loss of ($0.08) EPS with revenues of $0.04 million for the last quarter, indicating financial challenges.
• Institutional investors have varied their positions, with Tyche Wealth Partners increasing their stake by 142.9% during the second quarter, now owning 85,000 shares valued at $28,000.

Safety Shot, Inc. (NASDAQ:SHOT - Get Free Report)'s stock price fell 51% during trading on Monday . The company traded as low as $0.51 and last traded at $0.56. 33,410,822 shares traded hands during trading, an increase of 315% from the average session volume of 8,054,165 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Safety Shot to a "sell" rating in a report on Friday, July 18th.

Safety Shot Trading Down 3.0%

The business's fifty day moving average is $0.52 and its 200 day moving average is $0.47.

Safety Shot (NASDAQ:SHOT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $0.04 million for the quarter.

Institutional Investors Weigh In On Safety Shot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tyche Wealth Partners LLC grew its position in shares of Safety Shot by 142.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 85,000 shares of the company's stock valued at $28,000 after acquiring an additional 50,000 shares during the period. XTX Topco Ltd bought a new position in shares of Safety Shot in the 1st quarter valued at about $59,000. Jane Street Group LLC grew its position in shares of Safety Shot by 397.7% in the 4th quarter. Jane Street Group LLC now owns 102,267 shares of the company's stock valued at $74,000 after acquiring an additional 81,720 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Safety Shot by 13.3% in the 4th quarter. Geode Capital Management LLC now owns 491,743 shares of the company's stock valued at $354,000 after acquiring an additional 57,876 shares during the period. 12.55% of the stock is currently owned by institutional investors and hedge funds.

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.