The Very Good Food Company Inc. [NASDAQ: VGFC] gained 0.87% or 0.0 points to close at $0.07 with a heavy trading volume of 11671288 shares. The company report on December 22, 2022 that The Very Good Food Company Announces Financing Transaction.
Vancouver, British Columbia–(Newsfile Corp. – December 22, 2022) – The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY) (FSE: OSI) (“VERY GOOD” or the “Company”) today announced the execution of a non-binding term sheet relating to the non-brokered private placement of an unsecured convertible note (the “Note”) at the discounted issuance price of $2,000,000 (the “Funded Amount”), with a maturity value of $2,100,000 (the “Financing”).
The Note will bear interest at 15% per annum and will mature on the date that is 18 months following the Closing Date (the “Maturity Date”). At the option of the sole investor in the Financing, Reef Capital Inc. (“Reef”), the Note and all accrued and unpaid interest thereunder is convertible into units of the Company (the “Conversion Units”) at a conversion price of $0.10 per Conversion Unit (the “Conversion Price”). Each Conversion Unit will be comprised of one common share of the Company (each, a “Conversion Share”) and one common share purchase warrant (each, a “Conversion Warrant”). When issued, each Conversion Warrant will be exercisable for one common share of the Company (each a “Conversion Warrant Share”) for a period of three years from issuance at a price of $0.10 per Conversion Warrant Share.
It opened the trading session at $0.0704, the shares rose to $0.075 and dropped to $0.0658, the range by which the price of stock traded the whole day. The daily chart for VGFC points out that the company has recorded -70.23% loss over the past six months. However, it is still -16.67% lower than its most recent low trading price.
If we look at the average trading volume of 6.74M shares, VGFC reached to a volume of 11671288 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about The Very Good Food Company Inc. [VGFC]:
The Average True Range (ATR) for The Very Good Food Company Inc. is set at 0.01, with the Price to Sales ratio for VGFC stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 0.60.
Trading performance analysis for VGFC stock
The Very Good Food Company Inc. [VGFC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.86. With this latest performance, VGFC shares dropped by -42.17% in over the last four-week period, additionally sinking by -70.23% over the last 6 months – not to mention a drop of -90.68% 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 41.02, with the RSI for the last a single of trading hit 39.69, and the three-weeks RSI is set at 41.46 for The Very Good Food Company Inc. [VGFC]. The present Moving Average for the last 50 days of trading for this stock 0.0873, while it was recorded at 0.0704 for the last single week of trading, and 0.2029 for the last 200 days.
The Very Good Food Company Inc. [VGFC]: A deeper dive into fundamental analysis
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.
An analysis of insider ownership at The Very Good Food Company Inc. [VGFC]
There are presently around $1 million, or 14.40% of VGFC stock, in the hands of institutional investors. The top three institutional holders of VGFC stocks are: ARMISTICE CAPITAL, LLC with ownership of 13,100,000, which is approximately 0% of the company’s market cap and around 27.48% of the total institutional ownership; TWO SIGMA SECURITIES, LLC, holding 190,003 shares of the stock with an approximate value of $13000.0 in VGFC stocks shares; and VIRTU FINANCIAL LLC, currently with $11000.0 in VGFC stock with ownership of nearly -42.661% of the company’s market capitalization.
7 institutional holders increased their position in The Very Good Food Company Inc. [NASDAQ:VGFC] by around 370,539 shares. Additionally, 11 investors decreased positions by around 264,762 shares, while 17 investors held positions by with 13,310,845 shares. The mentioned changes placed institutional holdings at 13,946,146 shares, according to the latest SEC report filing. VGFC stock had 4 new institutional investments in for a total of 223,696 shares, while 8 institutional investors sold positions of 135,776 shares during the same period.