Bonk, Inc. (NASDAQ:BNKK) Short Interest Down 48.9% in May

Bonk, Inc. (NASDAQ:BNKK) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 426,285 shares, a drop of 48.9% from the May 14th total of 834,243 shares. Based on an average daily trading volume, of 547,519 shares, the days-to-cover ratio is currently 0.8 days. Approximately 11.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BNKK. Weiss Ratings downgraded Bonk from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Bonk from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Bonk currently has an average rating of “Sell”.

Bonk Stock Up 4.8%

Shares of BNKK stock traded up $0.07 during mid-day trading on Monday, reaching $1.42. 187,926 shares of the stock traded hands, compared to its average volume of 908,098. The stock’s fifty day simple moving average is $2.26 and its two-hundred day simple moving average is $3.25. The company has a market cap of $11.32 million, a price-to-earnings ratio of -0.30 and a beta of 1.86. Bonk has a 1-year low of $1.25 and a 1-year high of $46.90.

Bonk (NASDAQ:BNKK) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.23) EPS for the quarter. The company had revenue of $0.79 million during the quarter. Bonk had a negative return on equity of 148.62% and a negative net margin of 838.37%.

Insider Buying and Selling at Bonk

In other news, Director Mitchell Austin Rudy bought 31,055 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average price of $2.82 per share, with a total value of $87,575.10. Following the completion of the acquisition, the director owned 44,198 shares of the company’s stock, valued at $124,638.36. This represents a 236.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 51.60% of the company’s stock.

Hedge Funds Weigh In On Bonk

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp bought a new stake in shares of Bonk during the fourth quarter valued at approximately $33,000. Steward Partners Investment Advisory LLC bought a new position in Bonk in the 4th quarter valued at $37,000. Jane Street Group LLC bought a new position in Bonk in the 4th quarter valued at $96,000. Finally, Geode Capital Management LLC purchased a new position in shares of Bonk during the 4th quarter valued at $128,000. 12.55% of the stock is owned by institutional investors and hedge funds.

Bonk Company Profile

Safety Shot, Inc, a wellness and functional beverage company, engages in the research and development of over-the-counter products and intellectual property. Its products pipeline includes Photocil to address psoriasis and vitiligo; JW-700 to treat hair loss; JW-500 for women’s sexual wellness; NoStingz, a jellyfish sting prevention sunscreen; and JW-110 for the treatment of atopic dermatitis/eczema. The company primarily sell its products through third-party physical retail stores and partners. The company was formerly known as Jupiter Wellness, Inc and changed its name to Safety Shot, Inc in September 2023.