In a research note it distributed to investors on Friday, the Royal Bank of Canada decreased its target price for Thorne HealthTech (NASDAQ: THRN), which it had previously set at $8.00. The new target price for Thorne HealthTech is $6.00. The company’s stock was just given the rating of “outperform” by the analyst. In addition, the Royal Bank of Canada has established a price target for the stock based on its current price of 54.64%, which indicates that an increase may be possible shortly.
Other analysts have only recently published their reports on the company under discussion. For example, on August 11th, Cowen published a research report stating that it had lowered its “outperform” rating and target price for Thorne HealthTech from $12.00 to $8.00. The report was issued that day. Additionally, Cowen disclosed their intention to reduce their price target for Thorne HealthTech from $12.00 to $8.00 in a report made public on Thursday, August 11th.
NASDAQ: THRN was first available for trading on Friday with an opening price of $3.88. The price of the stock’s moving average over the past 50 days comes in at $4.86, and the price of the stock’s moving average over the past 200 days comes in at $5.25. At this time, the debt-to-equity ratio stands at zero, the quick ratio stands at one, the current ratio stands at two, and the current ratio stands at 2.91. During the previous calendar year, the price of a share of Thorne HealthTech fluctuated between $4.00 and $10.13 at various points. The price-to-earnings ratio for the company is 64.67, and its beta value is equal to 0.62. The company’s current value on the stock market is $204.63 million.
On Tuesday, August 9th, Thorne HealthTech (NASDAQ: THRN) released its quarterly earnings report. The company reported earnings per share for the quarter of $0.10, which was $0.06 lower than the consensus expectation of earnings per share for the quarter of $0.10, which was $0.06 lower than the consensus expectation of earnings per share for the quarter of $0.05. The amount in question was $56.07 million, and that is the total revenue that the company recorded during the relevant period. The return on equity for the quarter Thorne HealthTech reported was 1.78 percent, and the company’s net margin was 0.97%. Sell-side analysts forecast that Thorne HealthTech will earn a profit of $0.34 per share in the current fiscal year.
During recent years, significant shareholders in the company have been active in taking action to bring about change. Through the third quarter, SG Americas Securities LLC was able to amass a 56.9% increase in the proportion of Thorne HealthTech stock it owned. SG Americas Securities LLC now has a total of 28,380 shares, and the value of those shares is equal to $134,000 after purchasing an additional 10,288 shares during the most recent quarter. Allspring Global Investments Holdings LLC completed the acquisition of Thorne HealthTech during the third quarter for a total price of close to $30,000. Goldman Sachs Group Inc. purchased approximately 125,000 dollars worth of shares of Thorne HealthTech during the company’s second fiscal quarter. During the second quarter, Thorne HealthTech was given the news that Jane Street Group LLC had taken on a new role with an approximate value of one hundred thousand dollars.
Last but not least, during the second quarter, State Street Corporation increased the amount of Thorne HealthTech stock owned by 16.3 percent. After acquiring an additional 14,782 shares during the quarter, State Street Corp. now holds 105,580 in its portfolio. The value of all of State Street Corp.’s holdings in the company’s stock comes to a total of $511,000. In addition, institutional investors and hedge funds jointly own 10.56% of the company’s shares, making these two types of investors the company’s primary shareholders.
Thorne HealthTech, Inc. is a science-driven wellness company that provides individualized approaches and solutions for health and well-being both in the United States and internationally. In addition to providing nutritional supplements and wellness education programs, it also provides its customers with health testing that creates molecular profiles of those customers for a variety of health conditions, such as sleep, stress, weight management, gut health, heavy metals, and biological age. These molecular profiles can then be viewed and compared with the results of other health tests.
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