Short Interest in Limoneira Co (NASDAQ:LMNR) Grows By 20.1%

Limoneira Co (NASDAQ:LMNR) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 362,580 shares, a growth of 20.1% from the December 31st total of 302,020 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 104,835 shares, the days-to-cover ratio is presently 3.5 days. Based on an average daily trading volume, of 104,835 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.2% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LMNR shares. Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th. Zacks Research cut shares of Limoneira from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 31st. Finally, Lake Street Capital assumed coverage on shares of Limoneira in a research note on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Insider Activity at Limoneira

In related news, Director Scott S. Slater purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was bought at an average price of $12.85 per share, with a total value of $64,250.00. Following the completion of the purchase, the director owned 64,447 shares in the company, valued at approximately $828,143.95. This represents a 8.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LMNR. BNP Paribas Financial Markets increased its position in shares of Limoneira by 64.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the last quarter. CWM LLC grew its position in Limoneira by 144.3% during the third quarter. CWM LLC now owns 2,450 shares of the company’s stock valued at $36,000 after buying an additional 1,447 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Limoneira during the third quarter worth about $151,000. Byrne Asset Management LLC increased its holdings in Limoneira by 146.0% during the fourth quarter. Byrne Asset Management LLC now owns 12,671 shares of the company’s stock worth $160,000 after buying an additional 7,520 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Limoneira in the second quarter valued at about $220,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Stock Down 0.3%

Shares of LMNR stock traded down $0.04 during trading hours on Wednesday, reaching $14.28. The company had a trading volume of 53,002 shares, compared to its average volume of 86,235. The company has a market cap of $258.75 million, a price-to-earnings ratio of -15.35 and a beta of 0.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.35 and a quick ratio of 1.27. Limoneira has a 12 month low of $12.20 and a 12 month high of $23.50. The business has a fifty day simple moving average of $13.92 and a 200-day simple moving average of $14.55.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Tuesday, December 23rd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.28). Limoneira had a negative net margin of 10.01% and a negative return on equity of 8.79%. The company had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $35.35 million. During the same period in the previous year, the company posted ($0.09) earnings per share.

Limoneira Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, December 30th. Limoneira’s payout ratio is presently -32.26%.

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.