Brera Holdings PLC (NASDAQ:SLMT) Sees Large Decline in Short Interest

Brera Holdings PLC (NASDAQ:SLMT) saw a large decrease in short interest in May. As of May 15th, there was short interest totaling 497,070 shares, a decrease of 81.9% from the April 30th total of 2,744,565 shares. Based on an average daily trading volume, of 84,674 shares, the short-interest ratio is presently 5.9 days. Currently, 6.1% of the company’s stock are sold short.

Brera Stock Down 6.0%

NASDAQ:SLMT traded down $0.37 during mid-day trading on Friday, hitting $5.77. 53,144 shares of the company’s stock traded hands, compared to its average volume of 119,936. The company has a fifty day moving average of $71.58 and a 200 day moving average of $165.20. Brera has a twelve month low of $4.28 and a twelve month high of $529.50. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.02.

Brera (NASDAQ:SLMT) last announced its quarterly earnings data on Saturday, May 16th. The company reported ($915.90) earnings per share for the quarter.

Insider Activity

In other Brera news, Director Keren Kalima Maimon bought 1,149,000 shares of Brera stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average cost of $4.97 per share, with a total value of $5,710,530.00. Following the transaction, the director directly owned 1,336,868 shares of the company’s stock, valued at approximately $6,644,233.96. This represents a 611.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ron Sade bought 1,149,000 shares of Brera stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $4.97 per share, for a total transaction of $5,710,530.00. Following the completion of the transaction, the chief executive officer directly owned 1,340,646 shares in the company, valued at $6,663,010.62. This represents a 599.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC acquired a new position in shares of Brera in the fourth quarter valued at about $28,000. Millennium Management LLC acquired a new position in shares of Brera in the fourth quarter valued at about $41,000. Engineers Gate Manager LP acquired a new position in shares of Brera in the fourth quarter valued at about $62,000. PEAK6 LLC acquired a new position in shares of Brera in the fourth quarter valued at about $93,000. Finally, Geode Capital Management LLC acquired a new position in shares of Brera in the fourth quarter valued at about $95,000. 68.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brera in a research report on Friday, April 10th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Brera

Brera Holdings PLC is an Irish holding company focused on expanding social impact football by developing a global portfolio of emerging football clubs with increased opportunities to earn tournament prizes, gain sponsorships, and provide other professional football and related consulting services. We seek to build on the legacy and brand of Brera FC, the first football club that we acquired in July 2022. Brera FC is an amateur football association which has been building an alternative football legacy since its founding in 2000.