Landec Corp. (LNDC) Sees Unusually-High Trading Volume
Landec Corp. (NASDAQ:LNDC) saw an uptick in trading volume on Thursday . 206,109 shares changed hands during trading, an increase of 187% from the previous session’s volume of 71,695 shares.The stock last traded at $11.37 and had previously closed at $11.62.
Several research firms have recently issued reports on LNDC. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Wedbush began coverage on Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, Maxim Group began coverage on Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.10.
The stock’s market cap is $315.13 million. The firm’s 50-day moving average price is $11.01 and its 200 day moving average price is $11.00.
Landec Corp. (NASDAQ:LNDC) last released its earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. During the same quarter last year, the company earned $0.15 earnings per share. The firm earned $135.31 million during the quarter, compared to analyst estimates of $130.02 million. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that Landec Corp. will post $0.59 EPS for the current fiscal year.
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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