Steakholder Foods (NASDAQ:STKH) Shares to Reverse Split on Monday, July 27th

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH)’s stock is going to reverse split before the market opens on Monday, July 27th. The 1-3 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, July 26th.

Steakholder Foods Stock Performance

Shares of NASDAQ:STKH opened at $0.56 on Thursday. Steakholder Foods has a 12-month low of $0.45 and a 12-month high of $10.24. The business has a 50 day moving average of $0.95 and a 200-day moving average of $1.48.

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Steakholder Foods stock. SmartHarvest Portfolios LLC purchased a new stake in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,621 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 3.89% of Steakholder Foods at the end of the most recent quarter. 4.51% of the stock is currently owned by hedge funds and other institutional investors.

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.