cbdMD, Inc. (NYSEAMERICAN:YCBD) was the recipient of a significant growth in short interest in February. As of February 14th, there was short interest totalling 1,450,000 shares, a growth of 46.0% from the January 30th total of 993,100 shares. Currently, 7.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 636,500 shares, the short-interest ratio is currently 2.3 days.
In other news, CEO Raymond Scott Coffman acquired 125,000 shares of cbdMD stock in a transaction on Tuesday, January 14th. The shares were purchased at an average cost of $1.09 per share, for a total transaction of $136,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 150,000 shares of company stock worth $163,500 over the last quarter.
Several hedge funds have recently bought and sold shares of YCBD. Oxford Asset Management LLP bought a new position in shares of cbdMD in the fourth quarter worth about $50,000. Penserra Capital Management LLC bought a new position in shares of cbdMD in the third quarter worth about $90,000. Lionsbridge Wealth Management LLC bought a new position in shares of cbdMD in the fourth quarter worth about $341,000. Geode Capital Management LLC lifted its holdings in shares of cbdMD by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 158,887 shares of the company’s stock worth $359,000 after acquiring an additional 13,207 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of cbdMD by 6.2% in the fourth quarter. State Street Corp now owns 159,899 shares of the company’s stock worth $361,000 after acquiring an additional 9,381 shares during the last quarter.
cbdMD (NYSEAMERICAN:YCBD) last posted its earnings results on Thursday, February 13th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.60. The company had revenue of $10.41 million during the quarter.
YCBD has been the topic of a number of analyst reports. Benchmark reduced their price objective on shares of cbdMD from $9.00 to $7.00 and set a “speculative buy” rating on the stock in a research note on Thursday, December 19th. Cantor Fitzgerald initiated coverage on shares of cbdMD in a research note on Thursday, November 7th. They set a “neutral” rating on the stock.
cbdMD, Inc produces and distributes various cannibidiol (CBD) products in the United States. It operates through three segments: Products, Licensing, and Entertainment. The Products segment produces and markets CBD tinctures, capsules, gummies, bath bombs, vape oils, topical creams, and animal treats and oils under the cdbMD brand.
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