Landec Corp. (LNDC) Sees Strong Trading Volume
Landec Corp. (NASDAQ:LNDC) saw unusually-strong trading volume on Tuesday . Approximately 108,019 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 70,619 shares.The stock last traded at $13.05 and had previously closed at $12.93.
Several research analysts recently weighed in on LNDC shares. Zacks Investment Research raised Landec Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Maxim Group started coverage on Landec Corp. in a research report on Tuesday, June 7th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Wedbush started coverage on Landec Corp. in a research report on Thursday, July 7th. They issued a “neutral” rating and a $12.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Landec Corp. presently has an average rating of “Buy” and an average price target of $14.32.
The company’s 50-day moving average is $11.89 and its 200-day moving average is $11.15. The company’s market cap is $353.67 million.
Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm had revenue of $135.31 million for the quarter, compared to analysts’ expectations of $130.02 million. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Landec Corp. will post $0.57 EPS for the current fiscal year.
In other Landec Corp. news, Director Gary T. Steele sold 34,484 shares of Landec Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Ronald Lane Midyett sold 7,000 shares of Landec Corp. 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 in the company, valued at $1,336,251.38. The disclosure for this sale can be found here.
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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