Above Food Ingredients (NASDAQ:ABVE) Trading Down 5% - Here's Why

Above Food Ingredients Inc. (NASDAQ:ABVE - Get Free Report) was down 5% during trading on Tuesday . The stock traded as low as $2.21 and last traded at $2.30. Approximately 7,432,125 shares traded hands during trading, an increase of 61% from the average daily volume of 4,606,937 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Above Food Ingredients to a "hold" rating in a report on Thursday, May 22nd.

Above Food Ingredients Trading Down 14.7%

The company has a fifty day simple moving average of $1.38 and a 200-day simple moving average of $0.87.

Institutional Trading of Above Food Ingredients

An institutional investor recently bought a new position in Above Food Ingredients stock. MMCAP International Inc. SPC purchased a new position in Above Food Ingredients Inc. (NASDAQ:ABVE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 471,169 shares of the company's stock, valued at approximately $280,000. MMCAP International Inc. SPC owned approximately 1.69% of Above Food Ingredients as of its most recent filing with the Securities and Exchange Commission. 28.79% of the stock is currently owned by institutional investors.

About Above Food Ingredients

Above Food Ingredients Inc, a regenerative ingredient company, produces vertically integrated supply chain products in Canada, the United States, Mexico, China, France, Turkey, and internationally. It operates through two segments: Disruptive Agriculture and Rudimentary Ingredients, and Consumer Packaged Goods.