Brera Holdings PLC (NASDAQ:SLMT) Sees Large Decline in Short Interest

Brera Holdings PLC (NASDAQ:SLMT) was the target of a large decline in short interest in May. As of May 29th, there was short interest totaling 248,299 shares, a decline of 50.0% from the May 14th total of 497,070 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily trading volume, of 166,897 shares, the days-to-cover ratio is presently 1.5 days.

Insider Buying and Selling

In other Brera news, CEO Ron Sade bought 1,149,000 shares of Brera stock in a transaction on Thursday, May 21st. The stock was purchased at an average cost of $4.97 per share, for a total transaction of $5,710,530.00. Following the completion of the purchase, the chief executive officer directly owned 1,340,646 shares of the company’s stock, valued at $6,663,010.62. The trade was a 599.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keren Kalima Maimon bought 1,149,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average cost of $4.97 per share, with a total value of $5,710,530.00. Following the completion of the transaction, the director directly owned 1,336,868 shares of the company’s stock, valued at approximately $6,644,233.96. This represents a 611.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Brera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new stake in Brera in the 4th quarter worth $28,000. Millennium Management LLC bought a new position in Brera during the fourth quarter valued at about $41,000. Engineers Gate Manager LP acquired a new position in Brera in the 4th quarter valued at approximately $62,000. PEAK6 LLC acquired a new stake in shares of Brera during the 4th quarter worth approximately $93,000. Finally, Geode Capital Management LLC acquired a new position in shares of Brera in the fourth quarter valued at $95,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brera in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Brera Trading Down 9.1%

Shares of SLMT opened at $4.39 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.02. Brera has a one year low of $4.28 and a one year high of $529.50. The company’s fifty day moving average price is $56.64 and its 200 day moving average price is $123.46.

Brera (NASDAQ:SLMT) last released its quarterly earnings results on Saturday, May 16th. The company reported ($915.90) earnings per share (EPS) for the quarter. The business had revenue of $2.47 million for the quarter.

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.