Thorne HealthTech, Inc. (NASDAQ:THRN – Get Rating) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 249,700 shares, a decline of 45.4% from the October 31st total of 457,200 shares. Based on an average trading volume of 66,500 shares, the short-interest ratio is currently 3.8 days. Approximately 2.3% of the shares of the company are sold short.
Thorne HealthTech Stock Performance
THRN opened at $4.49 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. The firm has a market cap of $237.25 million, a PE ratio of 74.83 and a beta of 0.62. The business has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $5.04. Thorne HealthTech has a fifty-two week low of $3.41 and a fifty-two week high of $9.14.
Analysts Set New Price Targets
Several research analysts have recently issued reports on THRN shares. Royal Bank of Canada decreased their price target on Thorne HealthTech from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, November 11th. Cowen lowered their target price on shares of Thorne HealthTech from $12.00 to $8.00 in a research note on Thursday, August 11th. Canaccord Genuity Group initiated coverage on shares of Thorne HealthTech in a research note on Wednesday, November 16th. They issued a “buy” rating and a $5.50 price target for the company. Cowen lowered their price objective on shares of Thorne HealthTech from $12.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 11th. Finally, Canaccord Genuity Group began coverage on Thorne HealthTech in a research report on Thursday, November 17th. They issued a “buy” rating and a $5.50 target price for the company.
Institutional Trading of Thorne HealthTech
A number of hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Thorne HealthTech by 2.5% during the third quarter. State Street Corp now owns 108,239 shares of the company’s stock valued at $512,000 after acquiring an additional 2,659 shares during the period. Vanguard Group Inc. grew its holdings in shares of Thorne HealthTech by 93.9% during the third quarter. Vanguard Group Inc. now owns 641,019 shares of the company’s stock valued at $3,032,000 after buying an additional 310,419 shares in the last quarter. Bank of New York Mellon Corp raised its position in Thorne HealthTech by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 65,222 shares of the company’s stock valued at $308,000 after buying an additional 4,313 shares during the period. BlackRock Inc. lifted its stake in Thorne HealthTech by 6.1% in the 3rd quarter. BlackRock Inc. now owns 509,922 shares of the company’s stock worth $2,412,000 after acquiring an additional 29,520 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Thorne HealthTech by 29.0% during the 3rd quarter. Hsbc Holdings PLC now owns 39,904 shares of the company’s stock worth $191,000 after acquiring an additional 8,981 shares during the period. 10.56% of the stock is owned by hedge funds and other institutional investors.
About Thorne HealthTech
Thorne HealthTech, Inc, a science-driven wellness company, provides solutions and personalized approaches to health and wellness in the United States and internationally. It offers various health tests, such as sleep, stress, weight management, gut health, heavy metals, biological age, and other health tests that generate molecular portraits for its customers, as well as develops nutritional supplements and offers wellness education solutions.
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Read More: Thorne HealthTech, Inc. (NASDAQ:THRN) Sees Large Drop in Short Interest