Short Interest in Brera Holdings PLC (NASDAQ:SLMT) Declines By 45.1%

Key Points

• Short interest in Brera Holdings PLC fell sharply in June, dropping 45.1% to 196,774 shares as of June 30 from 358,350 shares two weeks earlier. That leaves about 2.4% of the company’s stock sold short, with a short-interest ratio of 2.4 days.
• The stock has been under pressure, opening at $5.56 and trading near its 52-week low of $4.28 versus a 52-week high of $529.50. Brera also reported a steep quarterly loss of ($91.22) EPS in its latest earnings release.
• Insiders and institutions have shown notable activity: CEO Ron Sade and Director Keren Kalima Maimon each bought 1,149,000 shares in May, while institutional investors own 68.26% of the stock. Despite that, Weiss Ratings reiterated a sell (e+) rating.

Brera Holdings PLC (NASDAQ:SLMT - Get Free Report) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 196,774 shares, a decrease of 45.1% from the June 15th total of 358,350 shares. Based on an average daily volume of 82,916 shares, the short-interest ratio is presently 2.4 days. Approximately 2.4% of the company's stock are short sold.

Brera Trading Down 16.1%

NASDAQ:SLMT opened at $5.56 on Wednesday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $23.61 and its two-hundred day moving average is $88.13. Brera has a 52 week low of $4.28 and a 52 week high of $529.50.

Brera (NASDAQ:SLMT - Get Free Report) last issued its earnings results on Saturday, May 16th. The company reported ($91.22) EPS for the quarter.

Insider Transactions at Brera

In related news, CEO Ron Sade bought 1,149,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $4.97 per share, for a total transaction of $5,710,530.00. Following the completion of the purchase, the chief executive officer owned 1,340,646 shares in the company, valued at $6,663,010.62. This represents a 599.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keren Kalima Maimon bought 1,149,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of $4.97 per share, for a total transaction of $5,710,530.00. Following the completion of the acquisition, the director owned 1,336,868 shares in the company, valued at approximately $6,644,233.96. This trade represents a 611.60% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Trading of Brera

Several hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC bought a new position in Brera in the 4th quarter worth about $16,998,000. Electric Capital Partners LLC acquired a new stake in shares of Brera in the fourth quarter valued at approximately $12,155,000. Anatole Investment Management Ltd bought a new stake in shares of Brera during the fourth quarter valued at approximately $10,389,000. Alyeska Investment Group L.P. acquired a new position in shares of Brera during the fourth quarter worth approximately $5,293,000. Finally, Arrington Capital Management LLC acquired a new position in shares of Brera during the fourth quarter worth approximately $2,055,000. 68.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Brera in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

About Brera

Brera Holdings PLC is an Irish holding company focused on expanding social impact football by developing a global portfolio of emerging football clubs with increased opportunities to earn tournament prizes, gain sponsorships, and provide other professional football and related consulting services. We seek to build on the legacy and brand of Brera FC, the first football club that we acquired in July 2022. Brera FC is an amateur football association which has been building an alternative football legacy since its founding in 2000.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.