Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Expands By 203.2%

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 481,200 shares, agrowthof203.2% from the July 15th total of 158,700 shares. Approximately7.9% of the company’s stock are short sold. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately7.9% of the company’s stock are short sold.

Silo Pharma Trading Up 2.6%

NASDAQ SILO opened at $0.71 on Monday. The business has a fifty day simple moving average of $0.64 and a 200 day simple moving average of $0.93. Silo Pharma has a 12 month low of $0.41 and a 12 month high of $3.37. The firm has a market capitalization of $3.18 million, a P/E ratio of -0.68 and a beta of 0.31.

Silo Pharma (NASDAQ:SILO) last announced its earnings results on Wednesday, August 13th. The company reported ($0.19) earnings per share for the quarter. The business had revenue of $0.02 million during the quarter. Silo Pharma had a negative return on equity of 94.39% and a negative net margin of 6,798.61%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Silo Pharma to a “sell” rating in a report on Saturday, July 12th.

Institutional Investors Weigh In On Silo Pharma

A hedge fund recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC lifted its stake in shares of Silo Pharma, Inc. (NASDAQ:SILO) by 48.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,236 shares of the company’s stock after purchasing an additional 60,000 shares during the quarter. AdvisorShares Investments LLC owned 4.11% of Silo Pharma worth $116,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.58% of the company’s stock.

About Silo Pharma

Silo Pharma Inc operates as a developmental stage biopharmaceutical company. The company is developing therapeutics that address underserved conditions, including stress-induced psychiatric disorders, chronic pain conditions, and central nervous system (CNS) diseases. It focuses on developing traditional therapies and psychedelic treatments in formulations and drug delivery systems.