Meatech 3D Ltd ADR Up 2.62% To $4.31 After Earnings

Meatech 3D Ltd ADR (MITC) said after close Tuesday that it lost $0.04 per share in quarter one 2022. The company reported $0.00 in revenue In the same quarter a year ago, the company lost $0.04 per share on revenue of $0.00.

The stock is up 2.62% to $4.31 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Trading in the five days leading up to the report earned Meatech 3D Ltd ADR a Bullish Sentiment Rank from InvestorsObserver.

Meatech 3D Ltd ADR has performed a little above average during the past few months. Before the report, Meatech 3D Ltd ADR received a Long-Term Technical Rank by InvestorsObserver of 53, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $3.26 on May 12, 2022 and set a 52-week high on December 10, 2021 at $9.87.

MeaTech 3D Ltd is a deep-tech food company. The company is cultivating meat technologies to improve meat production, simplify the meat supply chain and offer consumers a range of new product offerings. The company aims to provide an alternative to industrialized animal farming that reduces carbon footprint, minimizes water and land usage and prevents the slaughtering of animals. It is developing a novel, proprietary three-dimensional bioprinter to deposit layers of differentiated stem cells, scaffolding, and cell nutrients in a three-dimensional form of structured cultured meat. Through modular factory design, it expects to be able to offer a sustainable solution for producing a variety of beef, chicken and pork products, both as raw materials and whole cuts.