Whole Earth Brands Inc. (FREE) receives an Outperform rating from Imperial Capital


Whole Earth Brands Inc.’s filing revealed that its 10% Owner Sababa Holdings Free LLC acquired Company’s shares for reported $1.47 million on Jun 16. In the deal valued at $3.00 per share,488,923 shares were bought. As a result of this transaction, Sababa Holdings Free LLC now holds 8,855,223 shares worth roughly $ 34.0 million.

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Then, Fiaux Bernardo bought 21,950 shares, generating $75,947 in total proceeds. Upon buying the shares at $3.46, the Chief Financial Officer now owns 100,000 shares.

Before that, Fiaux Bernardo bought 19,962 shares. Whole Earth Brands Inc. shares valued at $64,876 were divested by the Chief Financial Officer at a price of $3.25 per share. As a result of the transaction, Fiaux Bernardo now holds 78,050 shares, worth roughly $0.3 million.

Imperial Capital initiated its Whole Earth Brands Inc. [FREE] rating to an Outperform in a research note published on Friday, April 12, 2023; the price target was $8.25. PT values the company’s stock at a premium of 53.45 to its Friday closing price.

Price Performance Review of FREE

On Friday, Whole Earth Brands Inc. [NASDAQ:FREE] saw its stock jump 0.79% to $3.84. On the same session, the stock had its day’s lowest price of $3.44, but rose to a high of $3.85. Over the last five days, the stock has gained 5.21%. Whole Earth Brands Inc. shares have fallen nearly -5.65% since the year began. Nevertheless, the stocks have fallen -24.85% over the past one year. While a 52-week high of $5.15 was reached on 01/18/23, a 52-week low of $2.09 was recorded on 04/24/23. SMA at 50 days reached $3.91, while 200 days put it at $3.41. A total of 0.17 million shares were traded, compared to the trading of 0.22 million shares in the previous session.

Levels Of Support And Resistance For FREE Stock

The 24-hour chart illustrates a support level at 3.57, which if violated will result in even more drops to 3.30. On the upside, there is a resistance level at 3.98. A further resistance level may holdings at 4.12. The Relative Strength Index (RSI) on the 14-day chart is 51.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.57%. Stochastics %K at 60.04% indicates the stock is a holding.

How much short interest is there in Whole Earth Brands Inc.?

A steep rise in short interest was recorded in Whole Earth Brands Inc. stocks on Aug 14, 2023, dropping by -0.21 million shares to a total of 1.28 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.49 million shares. There was a decline of -16.41%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.90% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.31.

Whole Earth Brands Inc. [FREE] – Who Are The Largest Shareholders?

In filings from Armistice Capital LLC, it is revealed that the company now owns 2,150,000 shares, or roughly 5.09% of the outstanding FREE shares. Additionally, The Vanguard Group, Inc. decreased -7.57% of its stake after which the total value it holdings stand at $7,819,740, while Pacific Ridge Capital Partners LL added 4.39% of its stake to hold $6.91 million in the firm. Over the last quarter, Clearline Capital LP purchased 382,402 shares of Whole Earth Brands Inc., while Ionic Capital Management LLC bought 185,398 shares. At present, Scoggin Management LP is holding 1,000,000 shares valued at $4.05 million. Millennium Management LLC owned 916,852 shares of the company at the time of its most recent 13F filing, worth $3.71 million.

According to FactSet, Whole Earth Brands Inc.’s share price will average $6.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 44.36 percent from its previous closing price of $3.81. Analysts expect Whole Earth Brands Inc. stock to reach the higher price of $8.50, while the lowest price estimate is $5.00. However, 4 analysts have rated FREE stock as a Buy in their predictions for 2023.


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