Laird Superfood (NYSEAMERICAN:LSF) Stock Price Up 5.6% - Here's Why

Laird Superfood, Inc. (NYSEAMERICAN:LSF - Get Free Report) rose 5.6% during mid-day trading on Wednesday . The stock traded as high as $7.91 and last traded at $7.69. Approximately 107,360 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 118,105 shares. The stock had previously closed at $7.28.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a "buy" rating and issued a $12.00 price target (up from $8.00) on shares of Laird Superfood in a report on Thursday.

Laird Superfood Stock Up 21.7 %

The stock has a market capitalization of $92.21 million, a price-to-earnings ratio of -22.42 and a beta of 2.20. The company has a 50-day simple moving average of $1.08.

Laird Superfood (NYSEAMERICAN:LSF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.07. The firm had revenue of $10.00 million for the quarter, compared to analyst estimates of $9.70 million. Laird Superfood had a negative net margin of 9.84% and a negative return on equity of 31.42%. Equities research analysts expect that Laird Superfood, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Laird Superfood

Several hedge funds have recently modified their holdings of LSF. XTX Topco Ltd acquired a new stake in Laird Superfood during the 2nd quarter valued at $63,000. Renaissance Technologies LLC grew its position in shares of Laird Superfood by 86.2% during the second quarter. Renaissance Technologies LLC now owns 327,600 shares of the company's stock worth $1,841,000 after buying an additional 151,679 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Laird Superfood during the 2nd quarter worth $155,000. Finally, Virtu Financial LLC acquired a new position in shares of Laird Superfood in the 1st quarter worth approximately $61,000. 8.56% of the stock is currently owned by hedge funds and other institutional investors.

About Laird Superfood

Laird Superfood, Inc manufactures and markets plant-based natural and functional food in the United States. The company provides powdered and liquid coffee creamers, and hydration and beverage enhancing supplements; hydrate coconut water products; performance mushroom supplements; functional, organic roasted, and instant coffee, tea, hot chocolate products; harvest snacks; and other food items.