Short Interest in Brera Holdings PLC (NASDAQ:SLMT) Declines By 45.1%

Brera Holdings PLC (NASDAQ:SLMT) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 196,774 shares, a decline of 45.1% from the June 15th total of 358,350 shares. Based on an average trading volume of 82,916 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.4% of the shares of the company are short sold.

Insider Buying and Selling at Brera

In related news, CEO Ron Sade acquired 1,149,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired 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 in the company, valued at $6,663,010.62. This trade represents a 599.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Keren Kalima Maimon acquired 1,149,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of $4.97 per share, for a total transaction of $5,710,530.00. Following the completion of the purchase, the director 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. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On Brera

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

Brera Price Performance

NASDAQ SLMT opened at $5.56 on Wednesday. The firm’s 50 day moving average price is $23.61 and its two-hundred day moving average price is $88.13. 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 twelve month low of $4.28 and a twelve month high of $529.50.

Brera (NASDAQ:SLMT) last issued its quarterly earnings results on Saturday, May 16th. The company reported ($91.22) earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brera in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Brera

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.