Short Interest in Bolt Projects Holdings, Inc. (NASDAQ:BSLK) Declines By 44.8%

Bolt Projects Holdings, Inc. (NASDAQ:BSLK) saw a large drop in short interest in December. As of December 15th, there was short interest totaling 123,619 shares, a drop of 44.8% from the November 30th total of 223,768 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average trading volume of 73,613 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 73,613 shares, the days-to-cover ratio is presently 1.7 days. Currently, 3.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Bolt Projects in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Bolt Projects presently has a consensus rating of “Sell”.

Bolt Projects Price Performance

Shares of Bolt Projects stock traded down $0.13 during trading on Friday, hitting $1.35. 69,014 shares of the company’s stock traded hands, compared to its average volume of 65,458. Bolt Projects has a 1 year low of $1.33 and a 1 year high of $25.00. The business has a 50-day simple moving average of $2.08 and a 200-day simple moving average of $3.15. The stock has a market capitalization of $5.89 million, a P/E ratio of -0.12 and a beta of 0.18.

Bolt Projects (NASDAQ:BSLK) last posted its earnings results on Wednesday, November 12th. The company reported ($2.70) earnings per share (EPS) for the quarter. The business had revenue of $0.37 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bolt Projects stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Bolt Projects Holdings, Inc. (NASDAQ:BSLK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,100 shares of the company’s stock, valued at approximately $61,000. Schonfeld Strategic Advisors LLC owned about 0.43% of Bolt Projects as of its most recent SEC filing. 5.52% of the stock is owned by institutional investors and hedge funds.

About Bolt Projects

Bolt Projects Holdings, Inc operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.