MGP Ingredients $MGPI stock was targeting by short sellers and institutional investor selling on October 12, 2022, after Spruce Point Capital issued a Strong Sell opinion on the stock.
Spruce Point sees up to 55% downside in MGP Ingredients $MGPI stock
On October 12, 2022, Spruce Point Capital Management issued a brief report on MGP Ingredients $MGPI stock. A forensic examination of the company’s Luxcoin deal found substantial evidence that the merger is failing to meet its promoted benefits despite potentially spring-loaded results, and that MGPI is making unusual cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... and reporting revisions that point to historical financial misstatement, Spruce Point wrote in a report published on its website. Spruce Point Capital believes MGP will again disappoint investors with an unexpected revision to forecasts. It sees 35%-55% downside in shares to $45.70 – $66.00 as investors recalibrate their expectations for declining profits.
Dark Pool Trades In MGP Ingredients Stock
We detected an unusually large dark pool trade in $MGPI stock on October 12, 2022. The dark pool block order was valued at $19 million, suggesting an institutional investor reduced a long position. We think that the dark pool trade was a sell order because of how $MGPI stock fell following the print. A narrative emerges that an institutional investor reduced a long position on the report from Spruce Point Capital.
MGP Ingredients $MGPI Stock Technical Analysis
MGP Ingredients $MGPI stock is in a weak uptrend but looks to soon be in a downtrend. The money flow shows rapid panic selling with traders sacrificing price in favor of execution and getting out of the stock as quickly as possible. The MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... confirmed a sell signal on October 12, 2022.
