Optimi Health Corp. (NASDAQ:OPTH) Sees Large Decline in Short Interest

Optimi Health Corp. (NASDAQ:OPTH) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 9,806 shares, a drop of 44.5% from the August 15th total of 17,682 shares. Based on an average daily volume of 20,884 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Optimi Health to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen raised Optimi Health to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings upgraded Optimi Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Optimi Health Trading Up 1.2%

Optimi Health stock traded up $0.06 during midday trading on Thursday, reaching $4.96. The stock had a trading volume of 60,786 shares, compared to its average volume of 98,040. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.03. Optimi Health has a 12 month low of $4.00 and a 12 month high of $6.40. The business has a fifty day moving average price of $4.79. The company has a market cap of $28.42 million and a P/E ratio of -6.53.

About Optimi Health

Optimi Health Corp. is a Canadian life sciences company focused on the development, production and distribution of psychedelic compounds and related products. The company’s activities are centered on psilocybin-based products and other emerging psychedelic formulations intended for potential therapeutic, research and experiential applications.

Optimi Health operates from Canada and has developed capabilities for the cultivation, extraction, formulation and processing of psychedelic and functional mushroom products.