Above Food Ingredients (NASDAQ:ABVE) Trading Down 4.6% – Should You Sell?

Shares of Above Food Ingredients Inc. (NASDAQ:ABVE) dropped 4.6% on Monday . The stock traded as low as $1.82 and last traded at $1.86. Approximately 1,637,839 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 1,499,027 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Above Food Ingredients to a “hold” rating in a research note on Thursday, May 22nd.

Above Food Ingredients Stock Down 4.6%

The firm has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.14.

Institutional Trading of Above Food Ingredients

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC acquired a new stake in shares of Above Food Ingredients in the 2nd quarter valued at approximately $26,000. Pure Financial Advisors LLC lifted its holdings in shares of Above Food Ingredients by 56.4% in the 2nd quarter. Pure Financial Advisors LLC now owns 26,712 shares of the company’s stock valued at $30,000 after buying an additional 9,631 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Above Food Ingredients by 20.3% in the 2nd quarter. Scotia Capital Inc. now owns 59,938 shares of the company’s stock valued at $67,000 after buying an additional 10,113 shares during the period. Finally, MMCAP International Inc. SPC acquired a new stake in shares of Above Food Ingredients in the 1st quarter valued at approximately $280,000. 28.79% of the stock is owned by institutional investors and hedge funds.

Above Food Ingredients Company Profile

Above Food Ingredients Inc, a regenerative ingredient company, produces vertically integrated supply chain products in Canada, the United States, Mexico, China, France, Turkey, and internationally. It operates through two segments: Disruptive Agriculture and Rudimentary Ingredients, and Consumer Packaged Goods.