Hoth Therapeutics, Inc. (NASDAQ:HOTH) Sees Significant Increase in Short Interest

Hoth Therapeutics, Inc. (NASDAQ:HOTH) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 245,300 shares, a growth of 11.8% from the August 31st total of 219,400 shares. Based on an average trading volume of 3,650,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Hoth Therapeutics in a research note on Friday, August 16th. EF Hutton Acquisition Co. I upgraded shares of Hoth Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 21st.

Hoth Therapeutics Trading Up 3.4 %

NASDAQ HOTH traded up $0.03 during trading hours on Friday, hitting $0.91. 154,025 shares of the company’s stock traded hands, compared to its average volume of 1,461,274. The business’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $1.03. The firm has a market capitalization of $4.87 million, a P/E ratio of -0.47 and a beta of 0.82. Hoth Therapeutics has a 52 week low of $0.58 and a 52 week high of $1.73.

Hoth Therapeutics (NASDAQ:HOTH) last announced its earnings results on Friday, August 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.15. On average, sell-side analysts expect that Hoth Therapeutics will post -1.18 EPS for the current fiscal year.

About Hoth Therapeutics

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.