Grom Social Enterprises, Inc. (NASDAQ:GROM) Short Interest Down 8.9% in July

Posted by Defense World Staff on Jul 31st, 2023

Grom Social Enterprises, Inc. (NASDAQ:GROM – Get Free Report) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 42,800 shares, a decline of 8.9% from the June 30th total of 47,000 shares. Based on an average daily trading volume, of 580,500 shares, the short-interest ratio is presently 0.1 days. Currently, 0.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Grom Social Enterprises

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC grew its holdings in Grom Social Enterprises by 33.4% during the 2nd quarter. Virtu Financial LLC now owns 94,940 shares of the company’s stock worth $39,000 after acquiring an additional 23,752 shares in the last quarter. Kepos Capital LP acquired a new stake in Grom Social Enterprises in the fourth quarter valued at $77,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Grom Social Enterprises during the 1st quarter worth about $206,000. Institutional investors and hedge funds own 3.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, EF Hutton Acquisition Co. I decreased their target price on shares of Grom Social Enterprises from $1.50 to $1.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th.

Grom Social Enterprises Stock Up 5.5 %

Shares of Grom Social Enterprises stock opened at $0.32 on Monday. Grom Social Enterprises has a 52 week low of $0.28 and a 52 week high of $21.00. The business’s fifty day simple moving average is $0.37 and its 200-day simple moving average is $0.76.

Grom Social Enterprises (NASDAQ:GROM – Get Free Report) last announced its earnings results on Wednesday, May 17th. The company reported ($0.43) earnings per share (EPS) for the quarter. Grom Social Enterprises had a negative net margin of 279.84% and a negative return on equity of 67.85%. The firm had revenue of $1.20 million during the quarter.

Grom Social Enterprises Company Profile

(Get Free Report)

Grom Social Enterprises, Inc, through its subsidiaries, operates as a media, technology, and entertainment company that focuses on delivering content in the United States. The company operates a social media network for children under the age of 13 years. It also produces animated films and televisions series; and provides web filtering services to schools and government agencies, as well as acquires, develops, and builds commercial potential of kids and family entertainment properties and associated business opportunities.