LRAD Corp (NASDAQ:LRAD) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 91,100 shares, an increase of 215.2% from the August 30th total of 28,900 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 97,800 shares, the days-to-cover ratio is presently 0.9 days.

In other LRAD news, Director Scott L. Anchin sold 25,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $3.13, for a total value of $78,250.00. Following the completion of the sale, the director now owns 56,005 shares in the company, valued at approximately $175,295.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $4.02, for a total transaction of $402,000.00. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in LRAD. River & Mercantile Asset Management LLP bought a new position in shares of LRAD during the 2nd quarter valued at $1,159,000. Vanguard Group Inc. raised its holdings in shares of LRAD by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,179,323 shares of the scientific and technical instruments company’s stock valued at $3,880,000 after purchasing an additional 140,202 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new position in shares of LRAD during the 2nd quarter valued at $112,000. Wells Fargo & Company MN raised its holdings in shares of LRAD by 306.9% during the 2nd quarter. Wells Fargo & Company MN now owns 28,485 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 21,485 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of LRAD by 1.2% during the 2nd quarter. BlackRock Inc. now owns 1,250,193 shares of the scientific and technical instruments company’s stock valued at $4,112,000 after purchasing an additional 14,332 shares in the last quarter. Institutional investors and hedge funds own 49.62% of the company’s stock.

LRAD stock opened at $3.41 on Friday. LRAD has a 12-month low of $2.08 and a 12-month high of $4.24. The company has a market cap of $107.23 million, a price-to-earnings ratio of 164.50 and a beta of 0.29. The company has a 50 day moving average of $3.36 and a two-hundred day moving average of $3.37.

LRAD (NASDAQ:LRAD) last released its quarterly earnings results on Monday, August 12th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $8.86 million for the quarter, compared to the consensus estimate of $11.10 million. LRAD had a net margin of 1.29% and a return on equity of 1.25%. As a group, analysts expect that LRAD will post 0.06 EPS for the current fiscal year.

A number of equities research analysts have issued reports on LRAD shares. ValuEngine downgraded shares of LRAD from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Oppenheimer started coverage on shares of LRAD in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 target price for the company. Zacks Investment Research downgraded shares of LRAD from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. CIBC started coverage on shares of LRAD in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 target price for the company. Finally, TheStreet downgraded shares of LRAD from a “b-” rating to a “c” rating in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $5.00.

LRAD Company Profile

LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.

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