Brera (NASDAQ:SLMT) Stock Price Down 9.1% – Time to Sell?

Brera Holdings PLC (NASDAQ:SLMT) fell 9.1% during trading on Thursday. The company traded as low as $3.05 and last traded at $3.18. Approximately 160,709 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 132,268 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

SLMT has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Brera from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings lowered shares of Brera from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Brera Trading Down 3.5%

The company’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $26.91.

Brera (NASDAQ:SLMT) last posted its quarterly earnings results on Saturday, September 26th. The company reported ($4.22) EPS for the quarter. The firm had revenue of $1.55 million for the quarter.

Institutional Trading of Brera

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Electric Capital Partners LLC purchased a new position in shares of Brera in the 4th quarter valued at $12,155,000. Anatole Investment Management Ltd purchased a new stake in shares of Brera during the 4th quarter worth $10,389,000. Arrington Capital Management LLC bought a new stake in Brera during the fourth quarter valued at about $2,055,000. J. Derek Lewis & Associates Inc. bought a new stake in Brera during the fourth quarter valued at about $312,000. Finally, Weiss Asset Management LP grew its stake in Brera by 2.6% in the first quarter. Weiss Asset Management LP now owns 290,531 shares of the company’s stock valued at $228,000 after purchasing an additional 7,266 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.

Brera Company Profile

Brera Holdings PLC is an Irish holding company focused on expanding social impact football by developing a global portfolio of emerging football clubs with increased opportunities to earn tournament prizes, gain sponsorships, and provide other professional football and related consulting services. We seek to build on the legacy and brand of Brera FC, the first football club that we acquired in July 2022. Brera FC is an amateur football association which has been building an alternative football legacy since its founding in 2000.