Procaps Group (NASDAQ:PROC) Shares Down 3%

Procaps Group S.A. (NASDAQ:PROC)’s stock price dropped 3% during mid-day trading on Thursday . The stock traded as low as $2.59 and last traded at $2.60. Approximately 9,167 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 21,215 shares. The stock had previously closed at $2.68.

Procaps Group Trading Up 0.4 %

The stock has a 50 day moving average of $3.03 and a 200 day moving average of $3.20. The company has a debt-to-equity ratio of 5.74, a current ratio of 1.47 and a quick ratio of 0.99.

Hedge Funds Weigh In On Procaps Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Exome Asset Management LLC purchased a new position in shares of Procaps Group in the fourth quarter worth about $516,000. Millennium Management LLC lifted its position in Procaps Group by 15.9% in the second quarter. Millennium Management LLC now owns 101,430 shares of the company’s stock valued at $945,000 after purchasing an additional 13,908 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Procaps Group during the second quarter valued at approximately $263,000. Geode Capital Management LLC grew its holdings in shares of Procaps Group by 13.7% in the first quarter. Geode Capital Management LLC now owns 21,223 shares of the company’s stock worth $96,000 after purchasing an additional 2,562 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Procaps Group in the third quarter worth approximately $89,000.

About Procaps Group

Procaps Group SA develops, produces, and markets pharmaceutical solutions worldwide. The company formulates, manufactures, and markets branded prescription drugs in various therapeutic areas, including feminine care products, pain relief, skin care, digestive health, growth and development, cardiology, vision care, central nervous system, and respiratory.