Farmmi, Inc. (NASDAQ:FAMI) Sees Large Decline in Short Interest

Farmmi, Inc. (NASDAQ:FAMI) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 616,371 shares, a drop of 48.7% from the August 15th total of 1,200,452 shares. Based on an average daily volume of 14,081,010 shares, the days-to-cover ratio is currently 0.0 days. Approximately 2.1% of the shares of the stock are sold short.

Farmmi Stock Down 4.9%

Farmmi stock opened at $0.13 on Thursday. Farmmi has a twelve month low of $0.09 and a twelve month high of $2.05. The stock’s fifty day simple moving average is $0.15 and its 200-day simple moving average is $0.81.

Farmmi (NASDAQ:FAMI) last released its earnings results on Thursday, August 27th. The company reported ($1.63) earnings per share for the quarter. The company had revenue of $3.20 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Farmmi from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Farmmi

Farmmi, Inc is a China-based agricultural company primarily engaged in the cultivation, processing and sale of edible fungi. The company’s product portfolio spans fresh and dried mushrooms—including shiitake, oyster and wood ear varieties—along with a range of value-added plant-based foods such as vermicelli and other specialty grain products. Farmmi operates integrated facilities that cover seedling cultivation, mushroom production and downstream processing, allowing for quality control and traceability throughout its supply chain.

Headquartered in Lishui, Zhejiang Province, Farmmi has developed a network of farms, processing plants and sales offices across multiple provinces in the People’s Republic of China.