Short Interest in Turbo Energy, S.A. (NASDAQ:TURB) Drops By 35.4%

Turbo Energy, S.A. (NASDAQ:TURB) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 547,541 shares, a drop of 35.4% from the June 15th total of 847,816 shares. Based on an average daily trading volume, of 155,544 shares, the short-interest ratio is currently 3.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Turbo Energy stock. XTX Topco Ltd acquired a new stake in Turbo Energy, S.A. (NASDAQ:TURB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 28,301 shares of the company’s stock, valued at approximately $26,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Turbo Energy in a research report on Thursday, July 2nd. Wall Street Zen raised Turbo Energy to a “hold” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Turbo Energy Price Performance

Shares of TURB opened at $1.50 on Friday. Turbo Energy has a 1-year low of $0.57 and a 1-year high of $20.45. The firm has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.58.

Turbo Energy (NASDAQ:TURB) last issued its quarterly earnings data on Saturday, May 16th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $8.48 million for the quarter.

About Turbo Energy

Turbo Energy, SA designs, develops, and distributes equipment for the generation, management, and storage of photovoltaic energy in Spain, rest of Europe, and internationally. The company offers lithium-ion batteries; inverters; photovoltaic modules; Go Solar, a portable photovoltaic product; and Sunbox, an AI based software system that monitors the generation, use, and management of photovoltaic energy. It is also involved in the acquisition, distribution, and sale of electrical and electronic materials for the development of renewable energy projects, such as solar panels, inverters, chargers, regulators, batteries, and structures.