AMMO, Inc. (NASDAQ:POWWP) Sees Large Decline in Short Interest
by Mitch Edgeman · The Markets DailyAMMO, Inc. (NASDAQ:POWWP – Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 1,146 shares, a drop of 76.7% from the January 29th total of 4,910 shares. Based on an average daily trading volume, of 4,137 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 4,137 shares, the short-interest ratio is currently 0.3 days.
AMMO Stock Down 1.4%
AMMO stock traded down $0.34 during mid-day trading on Friday, hitting $24.35. 5,346 shares of the company’s stock traded hands, compared to its average volume of 3,382. AMMO has a one year low of $20.00 and a one year high of $24.75. The firm has a 50 day moving average price of $24.12 and a 200 day moving average price of $24.09.
AMMO Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Sunday, March 1st will be given a $0.5469 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.19 annualized dividend and a yield of 9.0%.
About AMMO
AMMO, Inc is a holding company organized in 2019 as a spin-off from Vista Outdoor and trades on the NASDAQ under the ticker POWWP. Through its subsidiaries, the company specializes in the design, manufacturing and marketing of ammunition and propellant powders for commercial, law enforcement and military customers. AMMO, Inc’s primary operating unit, Black Hills Ammunition, offers a range of premium cartridges in common and specialty calibers, while Bridgeport Powder manufactures a portfolio of smokeless propellants.
The company’s products cater to sport shooters, hunters, competitive marksmen and professional users.