cbdMD, Inc. (NYSEAMERICAN:YCBD) Sees Significant Drop in Short Interest

cbdMD, Inc. (NYSEAMERICAN:YCBD) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,540,000 shares, a decrease of 6.3% from the December 15th total of 2,710,000 shares. Based on an average daily trading volume, of 258,600 shares, the short-interest ratio is currently 9.8 days. Approximately 12.1% of the company’s stock are sold short.

A hedge fund recently bought a new stake in cbdMD stock. Penserra Capital Management LLC bought a new stake in cbdMD, Inc. (NYSEAMERICAN:YCBD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,926 shares of the company’s stock, valued at approximately $90,000. Penserra Capital Management LLC owned approximately 0.08% of cbdMD at the end of the most recent reporting period.

YCBD stock opened at $1.05 on Wednesday. cbdMD has a 12 month low of $0.99 and a 12 month high of $7.24.

Several research firms have weighed in on YCBD. Cantor Fitzgerald began coverage on shares of cbdMD in a report on Thursday, November 7th. They set a “neutral” rating on the stock. Benchmark lowered their price objective on shares of cbdMD from $9.00 to $7.00 and set a “speculative buy” rating on the stock in a report on Thursday, December 19th.

About cbdMD

cbdMD, Inc produces and distributes various cannibidiol (CBD) products in the United States. It operates through three segments: Products, Licensing, and Entertainment. The Products segment produces and markets CBD tinctures, capsules, gummies, bath bombs, vape oils, topical creams, and animal treats and oils under the cdbMD brand.

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