Lexaria Bioscience Corp. (NASDAQ:LEXX) Stock Short Interest Rises 402.2%

Lexaria Bioscience Corp. (NASDAQ:LEXX – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 179,002 shares, an increase of 402.2% from the August 31st total of 35,644 shares. Approximately 11.8% of the company’s stock are sold short. Based on an average daily trading volume, of 110,136 shares, the short-interest ratio is presently 1.6 days.

Lexaria Bioscience Trading Down 2.7%

LEXX stock traded down $0.09 during mid-day trading on Friday, hitting $3.28. The stock had a trading volume of 34,210 shares, compared to its average volume of 106,957. The company has a fifty day moving average of $7.69 and a 200 day moving average of $9.59. Lexaria Bioscience has a 1-year low of $2.80 and a 1-year high of $21.60. The stock has a market capitalization of $5.41 million, a price-to-earnings ratio of -0.64 and a beta of 0.50.

Lexaria Bioscience (NASDAQ:LEXX – Get Free Report) last issued its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, sell-side analysts expect that Lexaria Bioscience will post -4.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Lexaria Bioscience from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.50.

Get Our Latest Stock Analysis on Lexaria Bioscience

About Lexaria Bioscience

(Get Free Report)

Lexaria Bioscience Corp. is a biotechnology company developing drug-delivery technologies designed to improve the absorption and delivery of orally administered active compounds. Its proprietary DehydraTECH platform is intended to enhance bioavailability and may facilitate the delivery of certain compounds across biological barriers, including the blood-brain barrier.

The company has researched DehydraTECH applications involving cannabinoids, nicotine, non-steroidal anti-inflammatory drugs, antiviral compounds and other active pharmaceutical ingredients.

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