Short interest in **Bolt Projects Holdings, Inc.** (NASDAQ: BSLK) significantly decreased by **44.8%** in December 2023. As of **December 15**, the total short interest reached **123,619 shares**, down from **223,768 shares** on **November 30**. This decline suggests a shift in market sentiment, with approximately **3.2%** of the company’s shares currently sold short.
The **short-interest ratio** stands at **1.7 days**, calculated based on the company’s average trading volume of **73,613 shares**. This metric indicates the number of days it would take for short sellers to cover their positions at the current trading volume.
Analyst Ratings and Stock Performance
In addition to the drop in short interest, **Weiss Ratings** reaffirmed a “sell (e+)” rating for **Bolt Projects** in a report on **October 8**, reflecting cautious sentiment among analysts. Currently, one investment analyst has assigned a **Sell** rating to the stock, leading to an average rating of “Sell” according to data from **MarketBeat.com**.
On **Monday**, BSLK shares opened at **$1.35**, a decline of **8.8%** from previous trading levels. The company’s **50-day simple moving average** is **$2.08**, while the **200-day simple moving average** is **$3.15**. With a **market capitalization** of **$5.90 million**, the company has a **P/E ratio** of **-0.12** and a **beta of 0.18**, indicating lower volatility compared to the market.
Over the past year, **Bolt Projects** has experienced considerable fluctuations, with a **12-month low** of **$1.33** and a **12-month high** of **$25.00**. The company last reported its quarterly earnings on **November 12**, revealing an **EPS** of **($2.70)** and revenues of **$0.37 million** for the quarter.
Company Overview
Based in **San Francisco, California**, **Bolt Projects Holdings, Inc.** operates as a material solutions company, specializing in sustainable products. Their offerings include **B-SILK PROTEIN**, a biodegradable ingredient tailored for the beauty and personal care sector, alongside **MYLO**, a mycelium-based leather alternative, and **MICROSILK**, a silk fiber product.
As investors and analysts closely monitor these developments, the future trajectory of Bolt Projects remains uncertain, with market dynamics and consumer interest playing pivotal roles in its performance. For those interested in ongoing updates, MarketBeat.com provides a daily summary of the latest news and ratings related to Bolt Projects and other companies in the sector.
