Freshpet Inc. [NASDAQ: FRPT] price plunged by -1.83 percent to reach at -$1.02. The company report on March 15, 2023 that Freshpet, Inc. Prices $350 Million Convertible Senior Notes Offering.
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The notes will be senior, unsecured obligations of Freshpet and will accrue interest at a rate of 3.00% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2023. The notes will mature on April 1, 2028, unless earlier repurchased, redeemed or converted. Before January 3, 2028, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after January 3, 2028, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Freshpet will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Freshpet’s election. The initial conversion rate is 14.3516 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $69.68 per share of common stock. The initial conversion price represents a premium of approximately 27.5% over the last reported sale price of $54.65 per share of Freshpet’s common stock on March 15, 2023. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.
A sum of 5529831 shares traded at recent session while its average daily volume was at 646.31K shares. Freshpet Inc. shares reached a high of $56.16 and dropped to a low of $45.13 until finishing in the latest session at $54.65.
The one-year FRPT stock forecast points to a potential upside of 26.34. The average equity rating for FRPT stock is currently 1.80, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Freshpet Inc. [FRPT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FRPT shares is $74.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FRPT stock is a recommendation set at 1.80. 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.
Citigroup have made an estimate for Freshpet Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 03, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on September 30, 2022, representing the official price target for Freshpet Inc. stock.
The Average True Range (ATR) for Freshpet Inc. is set at 3.80, with the Price to Sales ratio for FRPT stock in the period of the last 12 months amounting to 4.65. The Price to Book ratio for the last quarter was 2.55.
FRPT Stock Performance Analysis:
Freshpet Inc. [FRPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.04. With this latest performance, FRPT shares dropped by -12.57% in over the last four-week period, additionally plugging by 31.59% over the last 6 months – not to mention a drop of -35.22% 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 FRPT stock in for the last two-week period is set at 31.59, with the RSI for the last a single of trading hit 23.51, and the three-weeks RSI is set at 37.18 for Freshpet Inc. [FRPT]. The present Moving Average for the last 50 days of trading for this stock 61.24, while it was recorded at 56.43 for the last single week of trading, and 56.13 for the last 200 days.
Insight into Freshpet Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Freshpet Inc. [FRPT] shares currently have an operating margin of -8.54 and a Gross Margin at +28.93. Freshpet Inc.’s Net Margin is presently recorded at -9.99.
Return on Equity for this stock declined to -6.79, with Return on Assets sitting at -6.23.
Freshpet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.90.
Freshpet Inc. [FRPT] Insider Position Details
There are presently around $3,026 million, in the hands of institutional investors. The top three institutional holders of FRPT stocks are: VANGUARD GROUP INC with ownership of 4,423,502, which is approximately 2.228% of the company’s market cap and around 0.10% of the total institutional ownership; JANA PARTNERS LLC, holding 4,145,087 shares of the stock with an approximate value of $226.53 million in FRPT stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $200.72 million in FRPT stock with ownership of nearly -1.352% of the company’s market capitalization.
Positions in Freshpet Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 120 institutional holders increased their position in Freshpet Inc. [NASDAQ:FRPT] by around 6,001,805 shares. Additionally, 117 investors decreased positions by around 7,958,643 shares, while 35 investors held positions by with 41,416,970 shares. The mentioned changes placed institutional holdings at 55,377,418 shares, according to the latest SEC report filing. FRPT stock had 39 new institutional investments in for a total of 2,896,376 shares, while 32 institutional investors sold positions of 1,898,664 shares during the same period.