Landec Corp. (LNDC) Sees Strong Trading Volume
Landec Corp. (NASDAQ:LNDC) shares saw strong trading volume on Friday . 125,871 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 80,598 shares.The stock last traded at $12.30 and had previously closed at $12.25.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Wedbush assumed coverage on Landec Corp. in a research note on Thursday, July 7th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Maxim Group assumed coverage on Landec Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $16.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.32.
The stock has a 50-day moving average of $11.52 and a 200-day moving average of $11.11. The company’s market capitalization is $332.70 million.
Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $135.31 million for the quarter, compared to analyst estimates of $130.02 million. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Equities research analysts anticipate that Landec Corp. will post $0.57 EPS for the current fiscal year.
In other Landec Corp. news, COO Ronald Lane Midyett sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the transaction, the chief operating officer now owns 111,169 shares of the company’s stock, valued at approximately $1,336,251.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary T. Steele sold 34,484 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $12.47, for a total value of $430,015.48. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Landec Corp. stock. Ancora Advisors LLC increased its stake in Landec Corp. (NASDAQ:LNDC) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,676 shares of the company’s stock after buying an additional 3,500 shares during the period. Ancora Advisors LLC owned about 0.30% of Landec Corp. worth $1,114,000 as of its most recent filing with the SEC.
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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