Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) Short Interest Up 481.8% in June

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 29,188 shares, an increase of 481.8% from the May 31st total of 5,017 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 62,527 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Steakholder Foods from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Steakholder Foods Stock Down 19.9%

Shares of STKH stock opened at $0.64 on Friday. Steakholder Foods has a 12 month low of $0.63 and a 12 month high of $28.72. The company has a 50 day simple moving average of $1.43 and a two-hundred day simple moving average of $1.76.

Steakholder Foods (NASDAQ:STKH) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($24.20) earnings per share for the quarter.

Hedge Funds Weigh In On Steakholder Foods

An institutional investor recently bought a new stake in Steakholder Foods stock. SmartHarvest Portfolios LLC purchased a new stake in shares of Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,621 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned 3.89% of Steakholder Foods as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 4.51% of the company’s stock.

About Steakholder Foods

Steakholder Foods, trading on NASDAQ under the symbol STKH, is a developer of cultivated meat and fat products based on cellular agriculture and 3D bioprinting technologies. The company focuses on producing structured, whole-cut meat and fat components by cultivating animal cells in controlled bioreactors, offering an alternative to conventionally farmed meat with the goal of reducing environmental impact and improving food safety.

Originally founded as MeaTech 3D in Israel, the company rebranded to Steakholder Foods in early 2022 and completed its public listing on NASDAQ through a merger with a special purpose acquisition company.