Li Bang International (NASDAQ:LBGJ) Shares Climb 20.3% – Still a Buy?

Li Bang International Corporation Inc. (NASDAQ:LBGJ) shares traded up 20.3% during trading on Wednesday. The stock traded as high as $2.1672 and last traded at $1.84. 492,538 shares were traded during mid-day trading, an increase of 117% from the average daily volume of 227,091 shares. The stock had previously closed at $1.53.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LBGJ. Wall Street Zen raised shares of Li Bang International to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings cut Li Bang International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Li Bang International currently has a consensus rating of “Sell”.

Li Bang International Trading Up 20.3%

The stock has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2,542.61.

Insider Buying and Selling

In other news, CEO Feng Huang acquired 73,147 shares of Li Bang International stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $3.40 per share, with a total value of $248,699.80. Following the completion of the purchase, the chief executive officer owned 73,788 shares in the company, valued at approximately $250,879.20. The trade was a 11,411.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Funa Li bought 15,088 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $3.40 per share, for a total transaction of $51,299.20. Following the acquisition, the director directly owned 15,220 shares in the company, valued at $51,748. This trade represents a 11,430.30% increase in their position. The SEC filing for this purchase provides additional information.

About Li Bang International

Li Bang International Corporation Inc specializes in the research, development, production and sale of stainless steel commercial kitchen equipment under its own `Li Bang` brand principally in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Li Bang International Corporation Inc is based in Jiangyin, China.