Sow Good Inc. (NASDAQ:SOWG) Sees Large Drop in Short Interest

Sow Good Inc. (NASDAQ:SOWG) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 183,600 shares, a decrease of 32.3% from the November 30th total of 271,200 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 163,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Sow Good

Institutional investors and hedge funds have recently modified their holdings of the business. Abound Wealth Management acquired a new position in shares of Sow Good in the 2nd quarter valued at about $33,000. Perritt Capital Management Inc acquired a new stake in Sow Good during the second quarter worth about $60,000. Marshall Wace LLP bought a new position in Sow Good in the second quarter worth about $1,826,000. Bard Associates Inc. boosted its stake in Sow Good by 43.3% in the third quarter. Bard Associates Inc. now owns 243,145 shares of the company’s stock valued at $2,842,000 after acquiring an additional 73,445 shares during the period. Finally, Accredited Investors Inc. boosted its stake in Sow Good by 181.2% in the third quarter. Accredited Investors Inc. now owns 251,373 shares of the company’s stock valued at $2,939,000 after acquiring an additional 161,994 shares during the period. 10.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SOWG. Roth Mkm downgraded shares of Sow Good from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $4.00 in a research report on Friday, November 15th. Craig Hallum downgraded Sow Good from a “buy” rating to a “hold” rating and set a $4.50 price target for the company. in a research note on Friday, November 15th. Finally, Roth Capital cut Sow Good from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 15th.

Sow Good Price Performance

SOWG traded down $0.12 during trading hours on Friday, hitting $2.23. 661,379 shares of the stock were exchanged, compared to its average volume of 93,507. The stock has a market cap of $22.85 million, a price-to-earnings ratio of 8.92 and a beta of 1.77. The stock has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $12.06. Sow Good has a 12 month low of $2.10 and a 12 month high of $24.83.

Sow Good Company Profile

Sow Good Inc is engaged in producing nutritious products in the freeze-dried food industry. Sow Good Inc, formerly known as Black Ridge Oil and Gas Inc, is based in IRVING, Texas.