Landec Corp. (LNDC) Sees Unusually-High Trading Volume
Shares of Landec Corp. (NASDAQ:LNDC) saw strong 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 analysts recently weighed in on LNDC shares. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Maxim Group started coverage on Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Wedbush started coverage on Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Landec Corp. currently has an average rating of “Buy” and a consensus price target of $15.10.
The firm has a 50 day moving average price of $11.01 and a 200-day moving average price of $11.00. The firm’s market cap is $315.95 million.
Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The business earned $135.31 million during the quarter, compared to analysts’ expectations of $130.02 million. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. Equities research analysts expect that Landec Corp. will post $0.56 EPS for the current 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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