Rafael (NYSE:RFL) Stock Price Down 3.6% - Here's Why

Key Points

• The shares of Rafael Holdings, Inc. (NYSE:RFL) fell by 3.6% during mid-day trading, closing at $1.48 after a previous close of $1.53.
• Despite the stock's decline, Wall Street Zen upgraded Rafael from a "sell" rating to a "hold" rating, signaling potential optimism among analysts.
• CEO Howard S. Jonas significantly increased his stake in the company by purchasing over 13 million shares at $1.28 each, indicating confidence in the firm’s future.

Shares of Rafael Holdings, Inc. (NYSE:RFL - Get Free Report) dropped 3.6% during mid-day trading on Monday . The company traded as low as $1.45 and last traded at $1.48. Approximately 90,224 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 66,733 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Rafael from a "hold" rating to a "sell" rating in a report on Friday.

Rafael Stock Performance

The business has a 50 day moving average price of $1.78 and a 200 day moving average price of $1.74. The company has a market capitalization of $50.88 million, a P/E ratio of -1.54 and a beta of 0.89.

Rafael (NYSE:RFL - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $0.36 million for the quarter. Rafael had a negative net margin of 3,127.60% and a negative return on equity of 24.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Rafael by 72.9% in the second quarter. Geode Capital Management LLC now owns 451,139 shares of the company's stock worth $781,000 after acquiring an additional 190,179 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of Rafael in the 1st quarter valued at approximately $447,000. Cable Car Capital LP bought a new stake in Rafael during the 2nd quarter worth approximately $173,000. Americana Partners LLC acquired a new stake in Rafael during the 2nd quarter worth approximately $76,000. Finally, Marshall Wace LLP bought a new position in Rafael in the second quarter valued at approximately $50,000. 11.30% of the stock is currently owned by institutional investors.

About Rafael

Rafael Holdings, Inc primarily engages in holding interests in clinical and early-stage pharmaceutical companies, and commercial real estate assets in the United States and Israel. It operates in two segments, Healthcare and Real Estate. The company engages in the development and commercialization of therapies that exploit the metabolic differences between normal cells and cancer cells.