Short Interest in SOBR Safe, Inc. (NASDAQ:SOBR) Drops By 38.5%

SOBR Safe, Inc. (NASDAQ:SOBR) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 88,059 shares, a decline of 38.5% from the August 15th total of 143,248 shares. Based on an average trading volume of 205,886 shares, the short-interest ratio is currently 0.4 days. Currently, 1.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SOBR. Wall Street Zen upgraded shares of SOBR Safe to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of SOBR Safe in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, SOBR Safe currently has a consensus rating of “Sell”.

SOBR Safe Price Performance

SOBR traded down $0.07 on Wednesday, reaching $0.14. 523,498 shares of the stock were exchanged, compared to its average volume of 5,395,750. The company’s 50-day moving average price is $0.60 and its 200 day moving average price is $0.78. SOBR Safe has a fifty-two week low of $0.07 and a fifty-two week high of $3.97. The firm has a market capitalization of $727,650.00, a PE ratio of -0.03 and a beta of 1.22.

SOBR Safe (NASDAQ:SOBR) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($220.00) by $218.92. SOBR Safe had a negative return on equity of 314.39% and a negative net margin of 2,924.23%.The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.53 million.

About SOBR Safe

SOBR Safe, Inc (NASDAQ: SOBR) is a technology company specializing in the development and commercialization of cognitive impairment monitoring solutions. The company’s flagship offerings consist of handheld breath alcohol screening devices and integrated cognitive assessment tools designed to detect impairment in real time. SOBR Safe’s product line pairs portable breathalyzers with proprietary software that captures, records and analyzes impairment data to help organizations maintain safety and compliance standards.

Founded in 2020 and headquartered in Vancouver, Canada, SOBR Safe has focused on research and development of non-invasive impairment detection technology.