Market Analysts see Tattooed Chef Inc. [TTCF] gaining to $17. Time to buy?

Tattooed Chef Inc. [NASDAQ: TTCF] traded at a high on 01/14/21, posting a 4.89 gain after which it closed the day’ session at $26.81. The company report on January 14, 2021 that Tattooed Chef Announces Redemption of Public Warrants.

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Warrant Redemption Increases Cash Balance by $124 Million; Cashless Exercise Mitigates Dilution and Simplifies Capital Structure.

Tattooed Chef, Inc. (Nasdaq: TTCF, TTCFW) (“Tattooed Chef” or the “Company”), a leader in plant-based foods, announced that the Company will redeem all of its outstanding publicly held warrants (the “Public Warrants”) that remain unexercised immediately after 5:00 p.m. New York City time on February 16, 2021, the date for redemption fixed by the Company. Under the terms of the warrant agreement governing the public warrants (the “Warrant Agreement”), the Company is entitled to redeem all of the outstanding public warrants if the last sales price of the Company’s common stock is at least $18.00 per share on each of twenty trading days within any thirty-day trading period. This share price performance was achieved as of January 11, 2021.

The results of the trading session contributed to over 4705346 shares changing hands. Over the past one week, the price volatility of Tattooed Chef Inc. stands at 5.83% while the volatility over the past one month is 7.06%.

The market cap for TTCF stock reached $1.76 billion, with 65.18 million shares outstanding and 19.84 million shares in the current float. Compared to the average trading volume of 2.53M shares, TTCF reached a trading volume of 4705346 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Tattooed Chef Inc. [TTCF]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TTCF shares is $22.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TTCF stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Tattooed Chef Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 03, 2020. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on November 17, 2020, representing the official price target for Tattooed Chef Inc. stock.

The Average True Range (ATR) for Tattooed Chef Inc. is set at 1.59, with the Price to Sales ratio for TTCF stock in the period of the last 12 months amounting to 12.95. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.00.

How has TTCF stock performed recently?

Tattooed Chef Inc. [TTCF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.13. With this latest performance, TTCF shares gained by 31.10% in over the last four-week period, additionally plugging by 91.64% over the last 6 months – not to mention a rise of 162.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TTCF stock in for the last two-week period is set at 70.07, with the RSI for the last a single of trading hit 75.15, and the three-weeks RSI is set at 66.03 for Tattooed Chef Inc. [TTCF]. The present Moving Average for the last 50 days of trading for this stock 19.78, while it was recorded at 25.10 for the last single week of trading, and 17.09 for the last 200 days.

Tattooed Chef Inc. [TTCF]: Deeper insight into the fundamentals

Tattooed Chef Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Insider trade positions for Tattooed Chef Inc. [TTCF]

There are presently around $129 million, or 8.30% of TTCF stock, in the hands of institutional investors. The top three institutional holders of TTCF stocks are: FALCON EDGE CAPITAL, LP with ownership of 2,396,374, which is approximately 21.157% of the company’s market cap and around 61.51% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 630,997 shares of the stock with an approximate value of $16.92 million in TTCF stocks shares; and HIGHBRIDGE CAPITAL MANAGEMENT LLC, currently with $8.74 million in TTCF stock with ownership of nearly New of the company’s market capitalization.

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30 institutional holders increased their position in Tattooed Chef Inc. [NASDAQ:TTCF] by around 2,048,896 shares. Additionally, 35 investors decreased positions by around 1,811,179 shares, while 3 investors held positions by with 938,777 shares. The mentioned changes placed institutional holdings at 4,798,852 shares, according to the latest SEC report filing. TTCF stock had 15 new institutional investments in for a total of 802,446 shares, while 27 institutional investors sold positions of 1,591,395 shares during the same period.

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