Short Interest in SRM Entertainment, Inc. (NASDAQ:SRM) Decreases By 60.8%

SRM Entertainment, Inc. (NASDAQ:SRM) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 31,800 shares, a decline of 60.8% from the July 15th total of 81,200 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 54,900 shares, the short-interest ratio is currently 0.6 days.

SRM Entertainment Stock Performance

Shares of SRM Entertainment stock traded up $0.05 during trading on Thursday, reaching $0.70. 51,324 shares of the company’s stock were exchanged, compared to its average volume of 75,555. SRM Entertainment has a 1-year low of $0.65 and a 1-year high of $4.68. The company has a market cap of $7.12 million and a P/E ratio of -1.56. The firm’s 50-day moving average price is $1.09 and its 200 day moving average price is $1.30.

Hedge Funds Weigh In On SRM Entertainment

A hedge fund recently bought a new stake in SRM Entertainment stock. Total Investment Management Inc. bought a new position in SRM Entertainment, Inc. (NASDAQ:SRM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 83,543 shares of the company’s stock, valued at approximately $129,000. Total Investment Management Inc. owned approximately 0.86% of SRM Entertainment as of its most recent SEC filing. 1.58% of the stock is owned by institutional investors and hedge funds.

About SRM Entertainment

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.