Landec Corp. (LNDC) Sees Large Volume Increase
Landec Corp. (NASDAQ:LNDC) shares saw an uptick in trading volume on Tuesday . 108,019 shares traded hands 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.
A number of brokerages have issued reports on LNDC. Zacks Investment Research raised Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Maxim Group began 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. Finally, Wedbush began 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Landec Corp. has an average rating of “Buy” and an average target price of $14.32.
The firm’s market capitalization is $344.95 million. The firm has a 50-day moving average price of $11.94 and a 200-day moving average price of $11.16.
Landec Corp. (NASDAQ:LNDC) last posted its earnings results on Tuesday, July 26th. The company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The firm had revenue of $135.31 million for the quarter, compared to analysts’ expectations of $130.02 million. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, equities analysts predict that Landec Corp. will post $0.57 earnings per share for the current year.
In other news, COO Ronald Lane Midyett sold 7,000 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.02, for a total value of $84,140.00. Following the completion of the transaction, the chief operating officer now directly owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary T. Steele sold 34,484 shares of the business’s stock in a transaction 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.
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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