Limoneira (NASDAQ:LMNR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Limoneira Co (NASDAQ:LMNR) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.33 and traded as high as $13.92. Limoneira shares last traded at $13.76, with a volume of 80,849 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on LMNR shares. Lake Street Capital decreased their price target on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, June 10th. HC Wainwright downgraded shares of Limoneira to a “buy” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.00.

Limoneira Price Performance

The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $13.33. The stock has a market cap of $270.26 million, a price-to-earnings ratio of -6.53 and a beta of 0.30.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Tuesday, June 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.08). The firm had revenue of $23.93 million during the quarter, compared to analyst estimates of $21.42 million. Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%. As a group, research analysts anticipate that Limoneira Co will post -0.47 EPS for the current fiscal year.

Institutional Trading of Limoneira

Several institutional investors have recently added to or reduced their stakes in LMNR. Jacobs Levy Equity Management Inc. bought a new position in shares of Limoneira in the 1st quarter worth about $256,000. Jane Street Group LLC acquired a new position in shares of Limoneira in the 1st quarter valued at about $335,000. Geode Capital Management LLC grew its position in shares of Limoneira by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 397,720 shares of the company’s stock valued at $6,226,000 after buying an additional 20,913 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Limoneira by 248.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock valued at $692,000 after buying an additional 31,552 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Limoneira by 29.5% during the second quarter. Rhumbline Advisers now owns 24,943 shares of the company’s stock worth $390,000 after acquiring an additional 5,682 shares during the period. Institutional investors own 64.35% of the company’s stock.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.