Short Interest in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) Declines By 42.5%

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 6,178 shares, a decline of 42.5% from the April 30th total of 10,753 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 7,705 shares, the days-to-cover ratio is currently 0.8 days.

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 research note on Tuesday, May 26th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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 acquired a new stake in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,621 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned about 3.89% of Steakholder Foods as of its most recent filing with the Securities and Exchange Commission (SEC). 4.51% of the stock is owned by institutional investors and hedge funds.

Steakholder Foods Stock Up 6.5%

Shares of STKH traded up $0.08 during midday trading on Tuesday, reaching $1.37. The company had a trading volume of 83,447 shares, compared to its average volume of 108,592. Steakholder Foods has a 1-year low of $1.12 and a 1-year high of $28.72. The firm has a 50 day simple moving average of $1.62 and a 200-day simple moving average of $1.98.

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

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.