Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Update

Lexaria Bioscience Corp. (NASDAQ:LEXX) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 1,056,441 shares, a decrease of 33.8% from the December 31st total of 1,596,738 shares. Based on an average daily volume of 306,127 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.6% of the company’s stock are sold short. Approximately 4.6% of the company’s stock are sold short. Based on an average daily volume of 306,127 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

LEXX has been the topic of several analyst reports. HC Wainwright reduced their target price on shares of Lexaria Bioscience from $4.00 to $1.50 and set a “buy” rating on the stock in a report on Friday, December 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lexaria Bioscience in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Lexaria Bioscience from a “hold” rating to a “sell” rating in a report on Sunday, December 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.50.

Lexaria Bioscience Stock Up 3.7%

NASDAQ:LEXX traded up $0.03 during trading hours on Friday, reaching $0.78. 162,919 shares of the company’s stock were exchanged, compared to its average volume of 216,324. Lexaria Bioscience has a 1-year low of $0.46 and a 1-year high of $1.91. The firm has a market capitalization of $19.50 million, a price-to-earnings ratio of -1.40 and a beta of 0.63. The company has a 50-day moving average of $0.83 and a 200 day moving average of $0.93.

Lexaria Bioscience (NASDAQ:LEXX) last released its quarterly earnings results on Tuesday, January 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Lexaria Bioscience had a negative return on equity of 226.58% and a negative net margin of 1,685.84%.The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.14 million. Research analysts forecast that Lexaria Bioscience will post -0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexaria Bioscience

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC bought a new stake in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience as of its most recent SEC filing. 13.06% of the stock is owned by hedge funds and other institutional investors.

About Lexaria Bioscience

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.