Bolt Projects Holdings, Inc. (NASDAQ:BSLK) Short Interest Up 114.0% in September

Bolt Projects Holdings, Inc. (NASDAQ:BSLK) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 632,900 shares, a growth of 114.0% from the August 31st total of 295,700 shares. Approximately 37.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,060,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 8,060,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 37.0% of the shares of the stock are sold short.

Insider Transactions at Bolt Projects

In related news, CTO David Nate Breslauer purchased 10,940 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $3.23 per share, with a total value of $35,336.20. Following the purchase, the chief technology officer owned 29,247 shares of the company’s stock, valued at $94,467.81. This represents a 59.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Matthew Widmaier bought 13,374 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was acquired at an average cost of $3.81 per share, for a total transaction of $50,954.94. Following the completion of the purchase, the chief executive officer directly owned 36,805 shares in the company, valued at approximately $140,227.05. This represents a 57.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 29,455 shares of company stock worth $106,238 over the last ninety days. 16.90% of the stock is currently owned by corporate insiders.

Bolt Projects Stock Performance

BSLK stock opened at $3.86 on Friday. The firm has a market cap of $7.95 million, a PE ratio of -1.48 and a beta of 0.20. The firm’s 50 day moving average price is $4.57 and its 200-day moving average price is $4.34. Bolt Projects has a one year low of $1.75 and a one year high of $25.00.

Bolt Projects (NASDAQ:BSLK) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($2.20) EPS for the quarter. The firm had revenue of $1.30 million for the quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Bolt Projects in a research note on Saturday, September 27th. Wall Street Zen lowered shares of Bolt Projects from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Bolt Projects Company Profile

Bolt Projects Holdings, Inc operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.