Fintel reports that Ionic Ventures has filed a 13G/A form with the SEC disclosing ownership of 2.52MM shares of Smart for Life Inc (SMFL). This represents 6.97% of the company.
In their previous filing dated December 21, 2022 they reported 2.61MM shares and 7.22% of the company, a decrease in shares of 3.49% and a decrease in total ownership of 0.25% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 4,381.05% Upside
As of February 11, 2023, the average one-year price target for Smart for Life is $8.16. The forecasts range from a low of $8.08 to a high of $8.40. The average price target represents an increase of 4,381.05% from its latest reported closing price of $0.18.
The projected annual revenue for Smart for Life is $102MM, an increase of 456.60%. The projected annual EPS is $0.48.
What is the Fund Sentiment?
There are 11 funds or institutions reporting positions in Smart for Life. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to SMFL is 0.00%, an increase of 0.87%. Total shares owned by institutions decreased in the last three months by 67.47% to 92K shares.
What are large shareholders doing?
Anson Funds Management holds 1,027K shares representing 2.64% ownership of the company.
Hrt Financial holds 87K shares representing 0.22% ownership of the company. In it's prior filing, the firm reported owning 18K shares, representing an increase of 78.86%. The firm increased its portfolio allocation in SMFL by 273.82% over the last quarter.
Buckingham Strategic Wealth holds 30K shares representing 0.08% ownership of the company.
Janney Montgomery Scott holds 20K shares representing 0.05% ownership of the company. No change in the last quarter.
Two Sigma Securities holds 19K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 32K shares, representing a decrease of 67.67%. The firm decreased its portfolio allocation in SMFL by 64.84% over the last quarter.
This story originally appeared on Fintel.
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