The Simply Good Foods Company (NASDAQ:SMPL) saw a significant increase in short interest in October. As of October 13th, there was short interest totalling 1,075,768 shares, an increase of 52.0% from the September 29th total of 707,886 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average trading volume of 262,679 shares, the short-interest ratio is currently 4.1 days.
A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN purchased a new position in The Simply Good Foods during the third quarter valued at approximately $493,000. Bank of New York Mellon Corp purchased a new position in The Simply Good Foods during the third quarter valued at approximately $371,000. Gilder Gagnon Howe & Co. LLC purchased a new position in The Simply Good Foods during the third quarter valued at approximately $223,000. Finally, Nationwide Fund Advisors purchased a new position in The Simply Good Foods during the third quarter valued at approximately $488,000. 0.07% of the stock is owned by institutional investors.
Separately, Goldman Sachs Group, Inc. (The) initiated coverage on shares of The Simply Good Foods in a research note on Wednesday, October 4th. They set a “buy” rating and a $16.00 price objective for the company.
Shares of The Simply Good Foods (NASDAQ SMPL) traded up $0.16 during trading hours on Friday, reaching $12.10. 859,000 shares of the company traded hands, compared to its average volume of 360,002. The Simply Good Foods has a 12 month low of $10.93 and a 12 month high of $13.06.
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About The Simply Good Foods
The Simply Good Foods Company is a holding company. The Company through its subsidiaries, is engaged in developing, marketing and selling of branded nutritional foods and snacking products. The Company offers a range of products such as nutrition bars, ready to drink (RTD) shakes, snacks and confectionery products.
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