Bonk (NASDAQ:BNKK) Trading Down 8.1% – Here’s Why

Bonk, Inc. (NASDAQ:BNKK)’s share price traded down 8.1% on Tuesday . The stock traded as low as $2.34 and last traded at $2.38. 26,399 shares traded hands during trading, a decline of 59% from the average session volume of 63,902 shares. The stock had previously closed at $2.59.

Analyst Upgrades and Downgrades

BNKK has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Bonk in a research note on Monday, December 29th. Wall Street Zen raised Bonk to a “sell” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Bonk Stock Performance

The firm’s 50 day moving average is $3.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BNKK. State Street Corp bought a new position in shares of Bonk in the 4th quarter worth $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Bonk during the 4th quarter worth $37,000. Jane Street Group LLC purchased a new stake in shares of Bonk during the 4th quarter worth $96,000. Finally, Geode Capital Management LLC bought a new stake in Bonk during the fourth quarter valued at about $128,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.

About Bonk

Safety Shot, Inc, a wellness and functional beverage company, engages in the research and development of over-the-counter products and intellectual property. Its products pipeline includes Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women’s sexual wellness; NoStingz, a jellyfish sting prevention sunscreen; and JW-110 for the treatment of atopic dermatitis/eczema. The company primarily sell its products through third-party physical retail stores and partners. The company was formerly known as Jupiter Wellness, Inc and changed its name to Safety Shot, Inc in September 2023.