Short Interest in Functional Brands Inc. (NASDAQ:MEHA) Decreases By 62.4%

Functional Brands Inc. (NASDAQ:MEHA) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 2,045,995 shares, a drop of 62.4% from the May 31st total of 5,442,133 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily volume of 33,392,166 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Functional Brands

A hedge fund recently bought a new position in Functional Brands stock. Jane Street Group LLC acquired a new position in shares of Functional Brands Inc. (NASDAQ:MEHA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 194,968 shares of the company’s stock, valued at approximately $37,000. Jane Street Group LLC owned about 1.19% of Functional Brands as of its most recent filing with the SEC.

Functional Brands Stock Up 3.9%

MEHA opened at $0.01 on Friday. Functional Brands has a 52 week low of $0.01 and a 52 week high of $8.00. The business has a 50 day moving average price of $0.07 and a two-hundred day moving average price of $0.16. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.25. The company has a market cap of $226,537.90 and a PE ratio of -0.02.

Functional Brands (NASDAQ:MEHA) last announced its earnings results on Friday, May 15th. The company reported ($0.36) earnings per share for the quarter. The business had revenue of $1.65 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Functional Brands from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Functional Brands

Our company operates in the nutraceutical supplement industry. We are a manufacturer and distributor of supplements in categories such as pain, energy, prenatal, general health, bone and joint, gastro, immunity, cardiac, detox, mental clarity & focus, sleep, prenatal and urinary. Our end markets focus on end-consumers through different channels that include pharmacies, US wholesalers, international distributors and direct-to-consumers sales. Our products are sold over the counter, and consumers do not need a prescription to purchase our products.