Short Interest in AMMO, Inc. (NASDAQ:POWWP) Drops By 36.4%

AMMO, Inc. (NASDAQ:POWWP) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 1,774 shares, a decline of 36.4% from the August 15th total of 2,791 shares. Based on an average daily trading volume, of 6,394 shares, the days-to-cover ratio is currently 0.3 days.

AMMO Stock Performance

NASDAQ:POWWP traded down $0.23 during midday trading on Friday, reaching $24.27. The stock had a trading volume of 6,809 shares, compared to its average volume of 3,817. AMMO has a 1-year low of $22.75 and a 1-year high of $25.50. The firm’s fifty day simple moving average is $24.17 and its 200-day simple moving average is $24.35.

AMMO Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.5469 dividend. This represents a $2.19 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend was Tuesday, September 1st.

AMMO Company Profile

AMMO, Inc is a holding company organized in 2019 as a spin-off from Vista Outdoor and trades on the NASDAQ under the ticker POWWP. Through its subsidiaries, the company specializes in the design, manufacturing and marketing of ammunition and propellant powders for commercial, law enforcement and military customers. AMMO, Inc’s primary operating unit, Black Hills Ammunition, offers a range of premium cartridges in common and specialty calibers, while Bridgeport Powder manufactures a portfolio of smokeless propellants.

The company’s products cater to sport shooters, hunters, competitive marksmen and professional users.