Farmmi, Inc. (NASDAQ: FAMI) experienced a notable surge in short interest during December 2023. As of December 31, the total short interest reached **1,796 shares**, reflecting an increase of **51.7%** from the **1,184 shares** reported on December 15. This rise indicates that **0.1%** of the company’s shares are currently sold short.
The average daily trading volume for Farmmi stands at **7,613 shares**, which translates to a days-to-cover ratio of **0.2 days**. This metric suggests that it would take a minimal amount of time for short sellers to cover their positions, given the current trading volume.
On the trading front, Farmmi’s stock price fell by **0.8%**, closing at **$1.31** on Friday. During the trading session, **90,385 shares** exchanged hands, significantly lower than the average volume of **548,904 shares**. The company’s **50-day moving average price** is **$1.43**, while its **200-day moving average price** is **$1.66**. Over the past year, the stock has fluctuated between a low of **$1.11** and a high of **$3.71**.
Analysts’ Ratings and Company Profile
In a recent report, **Weiss Ratings** reaffirmed a “sell (D-)” rating on Farmmi’s shares on **October 8, 2023**. Currently, one investment analyst has assigned a **Sell** rating to the stock. According to data from **MarketBeat.com**, the consensus rating for Farmmi remains in the “Sell” category.
Farmmi, Inc. is based in **Lishui**, **Zhejiang Province**, China, and primarily focuses on the cultivation, processing, and sale of edible fungi. The company’s product range includes both fresh and dried mushrooms, such as shiitake, oyster, and wood ear varieties. Additionally, Farmmi offers a selection of value-added plant-based foods, including vermicelli and specialty grain products.
The company operates integrated facilities that cover all aspects of its supply chain, from seedling cultivation to mushroom production and downstream processing. This structure enhances quality control and traceability, which are critical in the agricultural sector.
As Farmmi continues to navigate the market, the increase in short interest may reflect investor sentiment and outlook on the company’s future performance. The agricultural firm has developed a comprehensive network of farms, processing plants, and sales offices across various provinces in China, positioning itself for potential growth in the competitive sector of edible fungi.
