Steakholder Foods (NASDAQ:STKH) Trading Down 8.4% – Time to Sell?

Shares of Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) fell 8.4% during trading on Thursday . The company traded as low as $1.65 and last traded at $1.75. 31,525 shares were traded during trading, a decline of 78% from the average session volume of 143,817 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

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

Steakholder Foods Trading Up 1.1%

The firm has a market capitalization of $2.40 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The business’s fifty day moving average price is $2.52 and its 200 day moving average price is $4.02.

Institutional Investors Weigh In On Steakholder Foods

An institutional investor recently bought a new position in Steakholder Foods stock. Hudson Bay Capital Management LP acquired a new stake in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,058 shares of the company’s stock, valued at approximately $66,000. Hudson Bay Capital Management LP owned approximately 1.03% of Steakholder Foods at the end of the most recent quarter. Institutional investors own 4.51% of the company’s stock.

Steakholder Foods Company Profile

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.