Short Interest in Senestech, Inc. (NASDAQ:SNES) Drops By 39.4%

Senestech, Inc. (NASDAQ:SNES) was the recipient of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 56,001 shares, a decrease of 39.4% from the May 14th total of 92,345 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 63,448 shares, the days-to-cover ratio is presently 0.9 days.

Senestech Stock Performance

Shares of NASDAQ:SNES opened at $1.65 on Wednesday. The business’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.97. The company has a market cap of $8.75 million, a P/E ratio of -0.87 and a beta of 0.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.79 and a current ratio of 8.91. Senestech has a one year low of $1.41 and a one year high of $6.24.

Senestech (NASDAQ:SNES) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.02. The company had revenue of $0.49 million for the quarter, compared to the consensus estimate of $0.63 million. Senestech had a negative return on equity of 67.60% and a negative net margin of 304.22%. On average, sell-side analysts forecast that Senestech will post -1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Glenbrook Capital Management bought 15,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $1.72 per share, for a total transaction of $25,800.00. Following the completion of the acquisition, the insider owned 908,635 shares in the company, valued at $1,562,852.20. This trade represents a 1.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 67,509 shares of company stock valued at $109,927 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC raised its position in shares of Senestech by 171.1% during the 4th quarter. DRW Securities LLC now owns 82,107 shares of the company’s stock worth $176,000 after purchasing an additional 51,818 shares during the period. Renaissance Technologies LLC grew its stake in Senestech by 35.2% during the 4th quarter. Renaissance Technologies LLC now owns 142,800 shares of the company’s stock worth $306,000 after buying an additional 37,165 shares during the last quarter. Sabby Management LLC increased its position in Senestech by 195.4% in the fourth quarter. Sabby Management LLC now owns 210,564 shares of the company’s stock worth $451,000 after buying an additional 139,281 shares during the period. Diversify Wealth Management LLC acquired a new stake in Senestech in the first quarter worth $31,000. Finally, XTX Topco Ltd bought a new stake in Senestech in the fourth quarter valued at $54,000. 5.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Senestech in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Senestech currently has an average rating of “Hold”.

Senestech Company Profile

SenesTech, Inc (NASDAQ: SNES) is a biotechnology company specializing in non-lethal pest management solutions. The company’s core focus is the development and commercialization of fertility-based control methods for commensal rodents, providing an alternative to traditional rodenticides. By targeting the reproductive cycle of rats, SenesTech aims to reduce rodent populations over time without the use of toxic chemicals, offering a more sustainable approach for pest management professionals.

The company’s flagship product, ContraPest®, is an EPA-registered liquid bait that disrupts rodent reproduction.