Above Food Ingredients (NASDAQ:ABVE) Stock Price Down 4.6% - Here's Why

Key Points

• Shares of Above Food Ingredients Inc. (NASDAQ:ABVE) declined by 4.6%, trading last at $1.86, with a significant trading volume increase to 1,637,839 shares.
• Wall Street Zen has upgraded Above Food Ingredients to a "hold" rating, indicating a change in analyst sentiment towards the stock.
• Institutional investors hold 28.79% of Above Food Ingredients' shares, with notable investments from firms like Geode Capital Management and Pure Financial Advisors.

Above Food Ingredients Inc. (NASDAQ:ABVE - Get Free Report) fell 4.6% during trading on Monday . The company traded as low as $1.82 and last traded at $1.86. 1,637,839 shares were traded during trading, an increase of 9% from the average session volume of 1,499,027 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

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

Above Food Ingredients Trading Down 2.6%

The business's fifty day simple moving average is $1.75 and its 200 day simple moving average is $1.15.

Institutional Trading of Above Food Ingredients

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new stake in Above Food Ingredients during the 2nd quarter worth approximately $26,000. Pure Financial Advisors LLC boosted its stake in shares of Above Food Ingredients by 56.4% in the 2nd quarter. Pure Financial Advisors LLC now owns 26,712 shares of the company's stock valued at $30,000 after purchasing an additional 9,631 shares in the last quarter. Scotia Capital Inc. increased its holdings in Above Food Ingredients by 20.3% in the 2nd quarter. Scotia Capital Inc. now owns 59,938 shares of the company's stock worth $67,000 after purchasing an additional 10,113 shares in the last quarter. Finally, MMCAP International Inc. SPC acquired a new position in Above Food Ingredients during the 1st quarter worth about $280,000. 28.79% of the stock is 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.