Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) Short Interest Down 81.0% in August

Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 66,914 shares, a drop of 81.0% from the July 30th total of 352,437 shares. Currently, 11.3% of the company’s stock are sold short. Based on an average daily trading volume, of 11,426,988 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Steakholder Foods in a report on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Steakholder Foods Stock Performance

NASDAQ:STKH traded down $0.05 on Friday, reaching $3.03. The stock had a trading volume of 892,747 shares, compared to its average volume of 1,245,122. The company has a 50-day moving average of $2.44 and a 200 day moving average of $3.71. Steakholder Foods has a 12-month low of $1.08 and a 12-month high of $20.91.

Steakholder Foods (NASDAQ:STKH) last announced its earnings results on Tuesday, August 25th. The company reported ($1.00) earnings per share (EPS) for the quarter.

Institutional Trading of Steakholder Foods

A hedge fund recently bought a new position in Steakholder Foods stock. SmartHarvest Portfolios LLC purchased a new stake in Steakholder Foods Ltd. Sponsored ADR (NASDAQ:STKH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,621 shares of the company’s stock, valued at approximately $78,000. SmartHarvest Portfolios LLC owned approximately 3.89% of Steakholder Foods at the end of the most recent reporting period. 4.51% of the stock is currently owned by hedge funds and other 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.