Farmmi, Inc. (NASDAQ:FAMI) experienced a significant rise in short interest, according to data released for December 2023. As of December 31, the total short interest reached 1,796 shares, reflecting a substantial increase of 51.7% from the 1,184 shares reported on December 15. Presently, only 0.1% of the company’s shares are sold short, indicating limited bearish sentiment among investors.
The company’s average daily trading volume is 7,613 shares, leading to a days-to-cover ratio of 0.2 days. This figure suggests it would take a minimal amount of time for short sellers to cover their positions, an important metric for assessing market activity.
Current Trading Performance and Analyst Ratings
Farmmi’s stock price fell by 0.8% during trading hours on Friday, reaching $1.31 per share. A total of 90,385 shares traded hands, markedly lower than its average volume of 548,904 shares. The stock’s 50-day moving average price stands at $1.43, while its 200-day moving average is $1.66. Over the past year, Farmmi has fluctuated significantly, with a low of $1.11 and a high of $3.71.
In terms of market outlook, Weiss Ratings recently reiterated a “sell (D-)” rating for Farmmi in a report dated October 8, 2023. Overall, one investment analyst has assigned a Sell rating to the stock. According to data from MarketBeat.com, the general consensus among analysts remains a “Sell” recommendation, indicating cautious sentiment toward the company’s future performance.
Farmmi’s Business Overview
Farmmi, Inc. is based in Lishui, Zhejiang Province, China, and focuses on the cultivation, processing, and sale of edible fungi. The company’s product range includes both fresh and dried mushroom varieties, such as shiitake and oyster mushrooms, as well as a selection of plant-based foods, including vermicelli and specialty grain products.
Farmmi operates integrated facilities that manage seedling cultivation, mushroom production, and downstream processing, ensuring quality control and traceability throughout its supply chain. The company has established a network of farms, processing plants, and sales offices across multiple provinces in the People’s Republic of China, positioning itself as a key player in the agricultural market.
Investors and analysts alike will continue to monitor Farmmi’s stock performance, particularly in light of the recent surge in short interest and the company’s overall market positioning.
