Steakholder Foods (NASDAQ:STKH) Stock Price Down 3.8% – Should You Sell?

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH)’s share price fell 3.8% on Wednesday . The stock traded as low as $3.25 and last traded at $3.29. 1,128,682 shares traded hands during trading, an increase of 2,043% from the average session volume of 52,662 shares. The stock had previously closed at $3.42.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on STKH shares. Wall Street Zen lowered shares of Steakholder Foods from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Steakholder Foods in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Steakholder Foods currently has a consensus rating of “Sell”.

Steakholder Foods Stock Down 3.8%

The firm has a market cap of $4.47 million, a P/E ratio of -0.01 and a beta of 1.41. The firm’s 50-day simple moving average is $3.22 and its 200 day simple moving average is $7.64.

Hedge Funds Weigh In On Steakholder Foods

A hedge fund recently raised its stake in Steakholder Foods stock. Armistice Capital LLC boosted its position in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,941 shares of the company’s stock after buying an additional 3,591 shares during the quarter. Armistice Capital LLC owned approximately 14.18% of Steakholder Foods worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 4.51% of the company’s stock.

About Steakholder Foods

Steakholder Foods Ltd., a deep-tech food company, engages in the development of cultivated meat technologies to manufacture cultivated meat without animal slaughter in Israel. The company develops a three-dimensional bioprinter to deposit layers of stem cells and differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat.