MeaTech 3D Ltd. (NASDAQ:MITC – Get Rating) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 56,000 shares, a growth of 370.6% from the June 15th total of 11,900 shares. Based on an average daily volume of 29,800 shares, the short-interest ratio is currently 1.9 days.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in MeaTech 3D stock. Penserra Capital Management LLC increased its stake in shares of MeaTech 3D Ltd. (NASDAQ:MITC – Get Rating) by 100.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,030 shares of the company's stock after purchasing an additional 4,518 shares during the period. Penserra Capital Management LLC owned approximately 0.07% of MeaTech 3D worth $45,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.74% of the company's stock.
Get MeaTech 3D alerts:MeaTech 3D Trading Up 7.6 %
MITC stock opened at $3.55 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.38 and a current ratio of 4.38. The company has a 50 day moving average price of $3.73 and a 200 day moving average price of $4.65. MeaTech 3D has a fifty-two week low of $3.20 and a fifty-two week high of $9.87.
Analysts Set New Price Targets
Separately, Alliance Global Partners started coverage on shares of MeaTech 3D in a research report on Friday. They issued a "buy" rating for the company.About MeaTech 3D
(Get Rating)
MeaTech 3D Ltd., a deep-tech food company, engages in the development of cultivated meat technologies to manufacture cultivated meat without animal slaughter. The company develops a three-dimensional bioprinter to deposit layers of differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat.
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