Farmmi, Inc. (NASDAQ:FAMI) Shares Shorted: Short Interest Up 281.6% in September

Farmmi, Inc. (NASDAQ:FAMI) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 2,352,264 shares, a growth of 281.6% from the August 31st total of 616,371 shares. Based on an average daily trading volume, of 113,395,618 shares, the short-interest ratio is presently 0.0 days. Approximately 7.9% of the company’s stock are sold short.

Farmmi Stock Performance

Shares of FAMI opened at $0.13 on Monday. Farmmi has a 1-year low of $0.09 and a 1-year high of $2.03. The company’s fifty day simple moving average is $0.14 and its 200 day simple moving average is $0.75.

Farmmi (NASDAQ:FAMI) last announced its quarterly earnings data on Thursday, August 27th. The company reported ($1.63) EPS for the quarter. The firm had revenue of $3.20 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Farmmi from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Farmmi Company Profile

Farmmi, Inc is an agricultural products company based in Lishui, Zhejiang Province, China. The company specializes in the cultivation, processing and sale of edible fungi and other agricultural products, with a focus on dried shiitake mushrooms and Mu Er, also known as black fungus.

Farmmi markets its products through business-to-business and business-to-consumer channels, including online and offline distribution. Its offerings are sold under the Farmmi and Shitake Mushroom brands and are intended for retail consumers, food-service businesses, wholesalers and other commercial customers.

The company was founded in 2015 and has historically served customers in China as well as selected international markets.