Steakholder Foods (NASDAQ:STKH) Stock Price Down 8.4% – What’s Next?

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) shares dropped 8.4% during trading on Thursday . The stock 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.

Analyst Ratings Changes

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

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 capitalization of $2.38 million, a price-to-earnings ratio of 0.00 and a beta of 1.41.

Hedge Funds 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:STKH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 quarter. 4.51% of the stock is owned by hedge funds and other institutional investors.

About Steakholder Foods

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.