Above Food Ingredients Inc. (NASDAQ:ABVE – Get Free Report) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 1,539,309 shares, a decline of 57.3% from the May 14th total of 3,601,627 shares. Based on an average daily trading volume, of 2,548,256 shares, the days-to-cover ratio is currently 0.6 days. Currently, 8.5% of the shares of the stock are sold short.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC purchased a new position in shares of Above Food Ingredients during the 2nd quarter valued at $26,000. Turn8 Private Wealth Inc. purchased a new stake in Above Food Ingredients in the 1st quarter worth $27,000. Engineers Gate Manager LP purchased a new stake in Above Food Ingredients in the 4th quarter worth $49,000. Millennium Management LLC purchased a new stake in Above Food Ingredients in the 3rd quarter worth $88,000. Finally, Cantor Fitzgerald L. P. lifted its stake in Above Food Ingredients by 41.4% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 205,000 shares of the company’s stock worth $357,000 after purchasing an additional 60,000 shares in the last quarter. Hedge funds and other institutional investors own 28.79% of the company’s stock.
Above Food Ingredients Stock Performance
ABVE opened at $0.11 on Friday. Above Food Ingredients has a fifty-two week low of $0.10 and a fifty-two week high of $6.56. The firm’s fifty day moving average is $0.56 and its 200 day moving average is $1.36.
Above Food Ingredients Company Profile
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. The Disruptive Agriculture and Rudimentary Ingredients segment engages in the provisioning of discrete genetics, origination, purchasing, grading, processing, and sale of regeneratively grown grain; and origination, purchase, and sale of bespoke ingredients products.
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