Smart for Life, Inc. (NASDAQ:SMFL) Sees Large Drop in Short Interest

Smart for Life, Inc. (NASDAQ:SMFL) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 75,400 shares, a drop of 60.7% from the February 29th total of 191,900 shares. Based on an average daily volume of 2,430,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 12.1% of the shares of the company are sold short.

Smart for Life Stock Performance

NASDAQ:SMFL traded down $0.02 during mid-day trading on Thursday, hitting $0.63. 218,214 shares of the company traded hands, compared to its average volume of 644,589. The stock’s fifty day moving average price is $1.01 and its 200-day moving average price is $1.61. The firm has a market cap of $504,000.00, a price-to-earnings ratio of 0.00 and a beta of 0.97. The company has a quick ratio of 0.04, a current ratio of 0.18 and a debt-to-equity ratio of 8.93. Smart for Life has a one year low of $0.33 and a one year high of $73.13.

Institutional Investors Weigh In On Smart for Life

A hedge fund recently bought a new stake in Smart for Life stock. UBS Group AG purchased a new stake in shares of Smart for Life, Inc. (NASDAQ:SMFL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 25,629 shares of the company’s stock, valued at approximately $29,000. UBS Group AG owned approximately 0.12% of Smart for Life at the end of the most recent reporting period. 28.39% of the stock is owned by institutional investors.

Smart for Life Company Profile

Smart for Life, Inc acquires, develops, manufactures, operates, markets, and sells nutraceutical and related products in the United States and internationally. It offers natural health and wellness meal replacement products, including nutrition bars, cookies, soups and shakes, vitamins, and supplements under the Smart for Life brand; dietary supplements; and nutritional products, including whey protein isolate powder, tablet supplements for joint health, nitric oxide, post workout blends, Omega-3 supplements, and pre-workout supplements under the Sports Illustrated Nutrition brand for athletes and active lifestyle consumers.