Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Drop in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 1,030,000 shares, a decrease of 28.5% from the September 30th total of 1,440,000 shares. Currently, 8.5% of the company’s shares are sold short. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 8.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SILO shares. Wall Street Zen upgraded Silo Pharma to a “sell” rating in a research report on Saturday, July 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Silo Pharma in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Silo Pharma has a consensus rating of “Sell”.

Hedge Funds Weigh In On Silo Pharma

A hedge fund recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC increased its stake in shares of Silo Pharma, Inc. (NASDAQ:SILO) by 48.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,236 shares of the company’s stock after acquiring an additional 60,000 shares during the quarter. AdvisorShares Investments LLC owned approximately 4.11% of Silo Pharma worth $116,000 at the end of the most recent quarter. 5.58% of the stock is owned by hedge funds and other institutional investors.

Silo Pharma Price Performance

Shares of SILO stock traded down $0.02 on Monday, hitting $0.52. The company’s stock had a trading volume of 141,410 shares, compared to its average volume of 1,659,703. The stock has a market capitalization of $6.93 million, a price-to-earnings ratio of -0.50 and a beta of 0.33. Silo Pharma has a fifty-two week low of $0.40 and a fifty-two week high of $3.37. The firm’s fifty day moving average price is $0.65 and its 200-day moving average price is $0.67.

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

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.