Procaps Group (NASDAQ:PROC) Stock Price Down 40.3% – Here’s What Happened

Shares of Procaps Group S.A. (NASDAQ:PROC) were down 40.3% during mid-day trading on Thursday . The company traded as low as $0.77 and last traded at $0.95. Approximately 658,169 shares changed hands during mid-day trading, an increase of 2,938% from the average daily volume of 21,666 shares. The stock had previously closed at $1.59.

Procaps Group Stock Down 40.3 %

The business’s 50 day moving average price is $1.74 and its 200-day moving average price is $1.79.

Hedge Funds Weigh In On Procaps Group

A hedge fund recently bought a new stake in Procaps Group stock. Itau Unibanco Holding S.A. acquired a new stake in Procaps Group S.A. (NASDAQ:PROC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 177,974 shares of the company’s stock, valued at approximately $416,000. Itau Unibanco Holding S.A. owned approximately 0.16% of Procaps Group as of its most recent filing with the SEC.

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.