Steakholder Foods (NASDAQ:STKH) Shares Down 7.1% – Time to Sell?

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH)’s share price fell 7.1% during trading on Tuesday . The stock traded as low as $0.7620 and last traded at $0.7620. 40,152 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 150,008 shares. The stock had previously closed at $0.82.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of 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 MarketBeat.com, the stock presently has an average rating of “Sell”.

Steakholder Foods Stock Performance

The firm’s 50-day moving average is $1.48 and its two-hundred day moving average is $1.79.

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

Institutional Trading of Steakholder Foods

A hedge fund recently bought a new stake in Steakholder Foods stock. SmartHarvest Portfolios LLC purchased a new position in shares of Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 4.51% of the stock is currently owned by 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.