Mama’s Creations (NASDAQ:MAMA) Shares Up 6.1% – What’s Next?

Shares of Mama’s Creations, Inc. (NASDAQ:MAMA) shot up 6.1% on Wednesday . The stock traded as high as $13.92 and last traded at $13.9460. 281,159 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 526,818 shares. The stock had previously closed at $13.14.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Lake Street Capital reiterated a “buy” rating and set a $22.00 price objective on shares of Mama’s Creations in a research report on Friday, September 4th. Weiss Ratings raised shares of Mama’s Creations from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. William Blair assumed coverage on Mama’s Creations in a research report on Friday, July 24th. They set an “outperform” rating for the company. Zacks Research cut Mama’s Creations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, DA Davidson dropped their price target on Mama’s Creations from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.00.

Mama’s Creations Price Performance

The company has a current ratio of 6.93, a quick ratio of 6.48 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $16.98 and its 200-day moving average price is $16.06. The stock has a market capitalization of $657.79 million, a PE ratio of 82.37 and a beta of 0.56.

Mama’s Creations (NASDAQ:MAMA) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Mama’s Creations had a return on equity of 10.05% and a net margin of 3.53%.The company had revenue of $54.58 million during the quarter, compared to analyst estimates of $52.85 million. On average, equities analysts forecast that Mama’s Creations, Inc. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Mama’s Creations

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Mama’s Creations during the 2nd quarter valued at approximately $42,473,000. Next Century Growth Investors LLC lifted its position in Mama’s Creations by 54.5% in the fourth quarter. Next Century Growth Investors LLC now owns 1,691,395 shares of the company’s stock worth $22,817,000 after buying an additional 596,688 shares during the last quarter. Jupiter Topco LLC purchased a new position in Mama’s Creations during the second quarter worth $23,880,000. Alyeska Investment Group L.P. boosted its stake in Mama’s Creations by 137.5% during the second quarter. Alyeska Investment Group L.P. now owns 950,000 shares of the company’s stock worth $16,958,000 after buying an additional 550,000 shares during the period. Finally, Park West Asset Management LLC bought a new position in Mama’s Creations during the second quarter valued at $14,280,000. Hedge funds and other institutional investors own 45.18% of the company’s stock.

Mama’s Creations Company Profile

Mama’s Creations, Inc is a food company that develops, produces and distributes prepared foods, with a focus on convenient, heat-and-eat products inspired by Italian and other comfort-food recipes. The company is best known for its meatballs and related refrigerated and frozen offerings, including products made with beef, turkey, pork, chicken and plant-based ingredients.

Its portfolio also includes stuffed shells, sauces, entrées, soups and side dishes sold under the Mama’s Creations and MamaMancini’s brands, among others.