Lifecore Biomedical, Inc. (NASDAQ:LFCR) Short Interest Update

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,500,000 shares, a growth of 6.4% from the December 15th total of 2,350,000 shares. Based on an average daily trading volume, of 240,000 shares, the days-to-cover ratio is currently 10.4 days. Approximately 7.6% of the company's stock are short sold.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stephens reiterated an "equal weight" rating and issued a $6.00 target price on shares of Lifecore Biomedical in a research note on Friday, January 3rd. Craig Hallum upped their target price on Lifecore Biomedical from $8.00 to $10.00 and gave the company a "buy" rating in a report on Friday, November 22nd.

Insider Activity

In related news, CEO Paul Josephs bought 17,000 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were bought at an average price of $5.74 per share, for a total transaction of $97,580.00. Following the completion of the acquisition, the chief executive officer now directly owns 559,717 shares of the company's stock, valued at $3,212,775.58. This trade represents a 3.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 28.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. ARS Investment Partners LLC purchased a new stake in shares of Lifecore Biomedical during the fourth quarter worth $74,000. Renaissance Technologies LLC bought a new stake in shares of Lifecore Biomedical during the 2nd quarter valued at $56,000. Creative Planning purchased a new stake in Lifecore Biomedical during the 3rd quarter worth about $69,000. Public Employees Retirement System of Ohio bought a new position in Lifecore Biomedical in the 3rd quarter worth about $119,000. Finally, Rhumbline Advisers grew its holdings in Lifecore Biomedical by 1,668.5% during the 2nd quarter. Rhumbline Advisers now owns 26,899 shares of the company's stock valued at $138,000 after buying an additional 25,378 shares in the last quarter. 83.36% of the stock is owned by institutional investors.

Lifecore Biomedical Stock Performance

LFCR traded up $0.04 during midday trading on Friday, reaching $6.48. The company had a trading volume of 82,479 shares, compared to its average volume of 341,377. The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. The stock has a market cap of $239.92 million, a PE ratio of -11.57 and a beta of 0.98. The business has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $5.90. Lifecore Biomedical has a 12-month low of $3.68 and a 12-month high of $8.90.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last issued its earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. On average, sell-side analysts expect that Lifecore Biomedical will post -1 earnings per share for the current fiscal year.

About Lifecore Biomedical

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.