Li Bang International Corporation Inc. (NASDAQ:LBGJ) Sees Large Drop in Short Interest

Li Bang International Corporation Inc. (NASDAQ:LBGJ) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 59,426 shares, a drop of 50.2% from the September 15th total of 119,232 shares. Based on an average daily volume of 108,090 shares, the days-to-cover ratio is presently 0.5 days. Approximately 8.4% of the company’s shares are short sold.

Li Bang International Stock Up 2.0%

Shares of NASDAQ LBGJ traded up $0.04 during trading hours on Wednesday, reaching $1.81. The stock had a trading volume of 32,879 shares, compared to its average volume of 255,398. Li Bang International has a 52-week low of $1.29 and a 52-week high of $25,400.00. The business’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $127.71.

Insider Transactions at Li Bang International

In other news, major shareholder Financial Lp Hrt sold 5,430 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $6.00, for a total value of $32,580.00. Following the transaction, the insider directly owned 743 shares in the company, valued at approximately $4,458. This represents a 87.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Feng Huang purchased 73,147 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $3.40 per share, for a total transaction of $248,699.80. Following the completion of the acquisition, the chief executive officer owned 73,788 shares of the company’s stock, valued at approximately $250,879.20. The trade was a 11,411.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 93,578 shares of company stock worth $332,057.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LBGJ shares. Weiss Ratings lowered shares of Li Bang International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 25th. Wall Street Zen raised shares of Li Bang International to a “sell” rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. According to MarketBeat, Li Bang International presently has an average rating of “Sell”.

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.