Above Food Ingredients Inc. (NASDAQ: ABVE) has seen a decline in its stock price by -10.07 in relation to its previous close of 1.39. However, the company has experienced a -20.38% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-09 that REGINA, Saskatchewan and MISSION, Kan. and CHESTER, Mont., Aug. 09, 2024 (GLOBE NEWSWIRE) — Above Food Ingredients Inc. ( Nasdaq: ABVE, ABVE.W ) (“Above Food” or the “Company”), an innovative food company leveraging its vertically integrated supply chain to deliver differentiated ingredients and consumer products, announces that it has entered into a definitive purchase agreement to acquire the Montana-based Specialty Crop Food Ingredient Division (“Assets”) of The Redwood Group, LLC (“TRG”), for consideration of US$34,000,000 plus working capital, subject to final closing adjustments. Upon the terms and subject to the conditions set forth in the purchase agreement, the consideration payable by the Company in exchange for the Assets will consist of US$8,100,000 in cash and 5,600,000 newly issued common shares of Above Food, subject to final closing adjustments and customary closing conditions.
Is It Worth Investing in Above Food Ingredients Inc. (NASDAQ: ABVE) Right Now?
Company’s 36-month beta value is -0.05.
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The public float for ABVE is 5.10M, and currently, short sellers hold a 2.46% ratio of that floaft. The average trading volume of ABVE on August 13, 2024 was 229.45K shares.
ABVE’s Market Performance
The stock of Above Food Ingredients Inc. (ABVE) has seen a -20.38% decrease in the past week, with a -45.65% drop in the past month, and a -85.71% fall in the past quarter. The volatility ratio for the week is 22.50%, and the volatility levels for the past 30 days are at 19.85% for ABVE. The simple moving average for the past 20 days is -20.29% for ABVE’s stock, with a -86.23% simple moving average for the past 200 days.
ABVE Trading at -75.82% from the 50-Day Moving Average
After a stumble in the market that brought ABVE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -90.74% of loss for the given period.
Volatility was left at 19.85%, however, over the last 30 days, the volatility rate increased by 22.50%, as shares sank -37.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -86.41% lower at present.
During the last 5 trading sessions, ABVE fell by -20.38%, which changed the moving average for the period of 200-days by -87.97% in comparison to the 20-day moving average, which settled at $1.5302. In addition, Above Food Ingredients Inc. saw -88.20% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for ABVE
Current profitability levels for the company are sitting at:
- -0.03 for the present operating margin
- -0.05 for the gross margin
The net margin for Above Food Ingredients Inc. stands at -0.0. The total capital return value is set at -0.12. Equity return is now at value -1.06, with -0.94 for asset returns.
Based on Above Food Ingredients Inc. (ABVE), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at -1.66. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -1.2.
Currently, EBITDA for the company is -3.01 million with net debt to EBITDA at -0.37. When we switch over and look at the enterprise to sales, we see a ratio of 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.03.
Conclusion
In a nutshell, Above Food Ingredients Inc. (ABVE) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
