Steakholder Foods (NASDAQ:STKH) Stock Price Down 3.2% – Here’s Why

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) shares were down 3.2% during trading on Friday . The stock traded as low as $1.17 and last traded at $1.21. Approximately 2,862 shares were traded during trading, a decline of 74% from the average daily volume of 10,987 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

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

Steakholder Foods Stock Performance

The stock has a market cap of $1.67 million, a price-to-earnings ratio of 0.00 and a beta of 1.45. The business has a fifty day simple moving average of $1.74 and a 200 day simple moving average of $2.87.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Steakholder Foods stock. Hudson Bay Capital Management LP purchased a new position in shares of Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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 reporting period. 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.