AMMO, Inc. (NASDAQ:POWW – Get Free Report) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,220,000 shares, a drop of 15.9% from the May 15th total of 2,640,000 shares. Based on an average daily volume of 445,200 shares, the days-to-cover ratio is currently 5.0 days. Approximately 2.5% of the shares of the company are sold short.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in AMMO in the third quarter valued at approximately $27,000. Horizon Family Wealth Inc. bought a new position in AMMO in the third quarter valued at approximately $884,000. Hurlow Wealth Management Group Inc. bought a new position in AMMO in the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in AMMO in the fourth quarter valued at approximately $651,000. Finally, Premier Path Wealth Partners LLC bought a new position in AMMO in the fourth quarter valued at approximately $32,000. 26.40% of the stock is owned by institutional investors.
AMMO Stock Down 28.7 %
Shares of POWW opened at $1.79 on Friday. AMMO has a 12 month low of $1.75 and a 12 month high of $3.15. The firm’s 50 day moving average is $2.50 and its 200-day moving average is $2.36. The stock has a market capitalization of $212.40 million, a PE ratio of -11.19 and a beta of 0.30. The company has a current ratio of 4.85, a quick ratio of 2.99 and a debt-to-equity ratio of 0.03.
About AMMO
AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.
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