The Very Good Food Company Inc. [VGFC] Stock trading around $0.29 per share: What’s Next?


The Very Good Food Company Inc. [NASDAQ: VGFC] traded at a high on 06/13/22, posting a 1.65 gain after which it closed the day’ session at $0.29. The company report on June 3, 2022 that THE VERY GOOD FOOD COMPANY INC. CLOSES USD $6.5 MILLION PRIVATE PLACEMENT.

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The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) (“VERY GOOD” or the “Company”), is pleased to announce that it  has closed its previously announced private placement for gross proceeds of approximately USD$6,500,000 (the “Offering”).

Pursuant to the Offering, the Company issued 13,100,000 common shares of the Company (“Shares”) at a purchase price of US$0.20 per Share, 19,400,000 common share equivalents (“Common Share Equivalents”) which entitle the holder to purchase 19,400,000 Shares at a price of $0.0001 per Common Share and 32,500,000 warrants (“Warrants”) to purchase 32,500,000 Shares at a price of US$0.2582 per Share. The Warrants are exercisable for a period of five years from issuance. The Shares, Common Share Equivalents, Warrants and Shares issuable upon exercise of the Common Share Equivalents and Warrants are collectively referred to as “Securities” in this news release.

The results of the trading session contributed to over 14904569 shares changing hands. Over the past one week, the price volatility of The Very Good Food Company Inc. stands at 40.47% while the volatility over the past one month is 33.84%.

The market cap for VGFC stock reached $34.37 million, with 118.47 million shares outstanding and 91.82 million shares in the current float. Compared to the average trading volume of 4.60M shares, VGFC reached a trading volume of 14904569 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The Very Good Food Company Inc. [VGFC]?

The Average True Range (ATR) for The Very Good Food Company Inc. is set at 0.06, with the Price to Sales ratio for VGFC stock in the period of the last 12 months amounting to 2.80. The Price to Book ratio for the last quarter was 1.08.

How has VGFC stock performed recently?

The Very Good Food Company Inc. [VGFC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.15. With this latest performance, VGFC shares gained by 16.04% in over the last four-week period, additionally sinking by -68.74% over the last 6 months – not to mention a drop of -91.83% 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 VGFC stock in for the last two-week period is set at 55.01, with the RSI for the last a single of trading hit 59.34, and the three-weeks RSI is set at 51.38 for The Very Good Food Company Inc. [VGFC]. The present Moving Average for the last 50 days of trading for this stock 0.2847, while it was recorded at 0.2684 for the last single week of trading, and 0.9760 for the last 200 days.

The Very Good Food Company Inc. [VGFC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and The Very Good Food Company Inc. [VGFC] shares currently have an operating margin of -452.44 and a Gross Margin at -84.55. The Very Good Food Company Inc.’s Net Margin is presently recorded at -445.07.

Return on Equity for this stock declined to -160.90, with Return on Assets sitting at -96.12.

Insider trade positions for The Very Good Food Company Inc. [VGFC]

There are presently around $0 million, or 1.89% of VGFC stock, in the hands of institutional investors. The top three institutional holders of VGFC stocks are: TORONTO DOMINION BANK with ownership of 103,304, which is approximately 0% of the company’s market cap and around 27.41% of the total institutional ownership; HARBOR ADVISORS LLC, holding 97,500 shares of the stock with an approximate value of $28000.0 in VGFC stocks shares; and SCOTIA CAPITAL INC., currently with $17000.0 in VGFC stock with ownership of nearly -2.838% of the company’s market capitalization.

7 institutional holders increased their position in The Very Good Food Company Inc. [NASDAQ:VGFC] by around 58,149 shares. Additionally, 13 investors decreased positions by around 1,233,330 shares, while 13 investors held positions by with 765,080 shares. The mentioned changes placed institutional holdings at 526,399 shares, according to the latest SEC report filing. VGFC stock had 3 new institutional investments in for a total of 39,942 shares, while 9 institutional investors sold positions of 1,159,866 shares during the same period.