Layne Christensen Co. (NASDAQ:LAYN) shares saw unusually-strong trading volume on Thursday . Approximately 156,196 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 97,112 shares.The stock last traded at $7.75 and had previously closed at $7.79.

Several analysts have commented on LAYN shares. Maxim Group raised their price objective on Layne Christensen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, April 18th. Jefferies Group restated a “hold” rating and issued a $7.25 target price (down previously from $7.50) on shares of Layne Christensen in a research report on Monday, April 18th. Finally, Zacks Investment Research downgraded Layne Christensen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 19th.

The firm’s 50-day moving average is $7.95 and its 200-day moving average is $7.37. The stock’s market cap is $154.06 million.

Layne Christensen (NASDAQ:LAYN) last posted its earnings results on Monday, June 6th. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.14. The firm earned $159.70 million during the quarter, compared to analyst estimates of $160.24 million. The business’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) earnings per share. Analysts expect that Layne Christensen Co. will post ($0.74) EPS for the current year.

A number of hedge funds recently bought and sold shares of LAYN. First Trust Advisors LP increased its stake in Layne Christensen by 153.4% in the fourth quarter. First Trust Advisors LP now owns 387,343 shares of the company’s stock valued at $2,037,000 after buying an additional 234,478 shares in the last quarter. KBC Group NV increased its stake in Layne Christensen by 99.1% in the fourth quarter. KBC Group NV now owns 204,186 shares of the company’s stock valued at $1,074,000 after buying an additional 101,628 shares in the last quarter. Finally, Green Square Capital LLC increased its stake in Layne Christensen by 22.3% in the fourth quarter. Green Square Capital LLC now owns 549,183 shares of the company’s stock valued at $2,889,000 after buying an additional 100,008 shares in the last quarter.

Layne Christensen Company (Layne) is a water management, construction and drilling company. The Company provides drilling solutions for water management, mineral services and specialty drilling needs. The Company operates through four segments: Water Resources, Inliner, Heavy Civil and Mineral Services.

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