Steakholder Foods (NASDAQ:STKH) Trading Down 8.4% – Here’s Why

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKHGet Free Report) shares were down 8.4% during mid-day trading on Thursday . The company traded as low as $1.65 and last traded at $1.75. Approximately 31,525 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 143,817 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Steakholder Foods in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Check Out Our Latest Stock Report on Steakholder Foods

Steakholder Foods Stock Performance

The company has a 50-day moving average of $2.54 and a 200-day moving average of $4.08. The stock has a market cap of $2.38 million, a price-to-earnings ratio of 0.00 and a beta of 1.41.

Institutional Investors Weigh In On Steakholder Foods

A hedge fund recently bought a new stake in Steakholder Foods stock. Hudson Bay Capital Management LP acquired a new stake in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKHFree Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 14,058 shares of the company’s stock, valued at approximately $66,000. Hudson Bay Capital Management LP owned about 1.03% of Steakholder Foods at the end of the most recent reporting period. Institutional investors own 4.51% of the company’s stock.

Steakholder Foods Company Profile

(Get Free Report)

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.

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