Stryve Foods (NASDAQ:SNAX) Rating Increased to Buy at Zacks Investment Research

Stryve Foods (NASDAQ:SNAXGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $1.50 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 22.95% from the stock’s current price.

According to Zacks, “Stryve Foods Inc. is an emerging healthy snacking company which manufactures, markets and sells healthy snacking products. The company’s product portfolio consists primarily of air-dried meat snack products marketed under the Stryve(R), Kalahari(R), Braaitime(R) and Vacadillos(R) brand names. Stryve Foods Inc., formerly known as Andina Acquisition Corp. III, is based in NEW YORK. “

A number of other equities analysts have also issued reports on SNAX. Craig Hallum lowered their target price on shares of Stryve Foods from $15.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, March 29th. Northland Securities reduced their target price on shares of Stryve Foods from $10.00 to $4.00 and set an “outperform” rating for the company in a report on Tuesday, March 29th.

Shares of Stryve Foods stock opened at $1.22 on Wednesday. The company has a current ratio of 7.75, a quick ratio of 4.55 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $1.19 and a 200-day simple moving average of $2.52. The stock has a market cap of $30.68 million, a price-to-earnings ratio of -0.78 and a beta of 0.52. Stryve Foods has a 12-month low of $0.82 and a 12-month high of $10.70.

Stryve Foods (NASDAQ:SNAXGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.07. The firm had revenue of $7.42 million for the quarter, compared to analysts’ expectations of $7.00 million. On average, analysts forecast that Stryve Foods will post -0.86 earnings per share for the current fiscal year.

In other news, Director Ted Casey purchased 54,000 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average price of $1.20 per share, with a total value of $64,800.00. Following the purchase, the director now directly owns 205,051 shares of the company’s stock, valued at approximately $246,061.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 50.42% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Stryve Foods by 145.6% during the 4th quarter. BlackRock Inc. now owns 8,115 shares of the company’s stock valued at $32,000 after buying an additional 4,811 shares during the last quarter. Northern Trust Corp purchased a new stake in Stryve Foods during the 4th quarter worth about $42,000. Renaissance Technologies LLC acquired a new position in Stryve Foods in the 4th quarter valued at about $56,000. State Street Corp acquired a new position in Stryve Foods in the 4th quarter valued at about $58,000. Finally, Mak Capital One LLC purchased a new position in Stryve Foods in the 3rd quarter valued at about $136,000. Hedge funds and other institutional investors own 12.25% of the company’s stock.

Stryve Foods Company Profile (Get Rating)

Stryve Foods, Inc manufactures, markets, and sells snacking products in North America. The company's product portfolio consists primarily of air-dried meat snack products marketed under the Stryve, Kalahari, Braaitime, and Vacadillos brands. It also produces meat sticks, chili bites, and meat crisps; and carne seca products.

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