Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) Sees Significant Decrease in Short Interest

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 4,352 shares, a decline of 33.5% from the February 26th total of 6,547 shares. Based on an average daily volume of 9,359 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the shares of the stock are sold short.

Steakholder Foods Stock Down 2.1%

STKH opened at $1.42 on Friday. The company has a market capitalization of $1.96 million, a PE ratio of 0.00 and a beta of 1.45. The firm has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $2.72. Steakholder Foods has a 52 week low of $1.12 and a 52 week high of $45.70.

Analyst Upgrades and Downgrades

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

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 position in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 reporting period. Institutional investors and hedge funds own 4.51% of the company’s stock.

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.