SOBR Safe, Inc. (NASDAQ:SOBR) Sees Large Growth in Short Interest

SOBR Safe, Inc. (NASDAQ:SOBR) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,350,311 shares, an increase of 3,686.2% from the June 30th total of 35,664 shares. Currently, 48.2% of the shares of the company are sold short. Based on an average trading volume of 47,203,555 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On SOBR Safe

An institutional investor recently bought a new position in SOBR Safe stock. XTX Topco Ltd purchased a new stake in shares of SOBR Safe, Inc. (NASDAQ:SOBR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,695 shares of the company’s stock, valued at approximately $34,000. XTX Topco Ltd owned 1.04% of SOBR Safe as of its most recent filing with the Securities and Exchange Commission. 7.93% of the stock is owned by hedge funds and other institutional investors.

SOBR Safe Trading Down 12.6%

SOBR Safe stock opened at $0.60 on Friday. The stock has a market cap of $1.67 million, a price-to-earnings ratio of -0.11 and a beta of 1.20. The company’s 50-day moving average price is $0.95 and its two-hundred day moving average price is $1.00. SOBR Safe has a 52 week low of $0.35 and a 52 week high of $4.39.

SOBR Safe (NASDAQ:SOBR) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.82) EPS for the quarter. The company had revenue of $0.08 million for the quarter. SOBR Safe had a negative return on equity of 172.71% and a negative net margin of 2,166.28%.

SOBR Safe Company Profile

SOBR Safe, Inc (NASDAQ: SOBR) is a technology company specializing in the development and commercialization of cognitive impairment monitoring solutions. The company’s flagship offerings consist of handheld breath alcohol screening devices and integrated cognitive assessment tools designed to detect impairment in real time. SOBR Safe’s product line pairs portable breathalyzers with proprietary software that captures, records and analyzes impairment data to help organizations maintain safety and compliance standards.

Founded in 2020 and headquartered in Vancouver, Canada, SOBR Safe has focused on research and development of non-invasive impairment detection technology.