Lifeway Foods, Inc. (NASDAQ:LWAY) Sees Large Drop in Short Interest

Lifeway Foods, Inc. (NASDAQ:LWAY) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 264,800 shares, a decline of 40.2% from the September 15th total of 442,600 shares. Based on an average daily trading volume, of 171,600 shares, the short-interest ratio is currently 1.5 days. Approximately 5.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LWAY. Noble Financial cut shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. StockNews.com lowered shares of Lifeway Foods from a “buy” rating to a “hold” rating in a research report on Sunday, September 8th.

Lifeway Foods Price Performance

LWAY opened at $26.63 on Friday. Lifeway Foods has a one year low of $9.06 and a one year high of $28.61. The company’s 50 day simple moving average is $20.40 and its 200-day simple moving average is $17.89. The stock has a market capitalization of $393.86 million, a P/E ratio of 29.59 and a beta of 1.04.

Lifeway Foods (NASDAQ:LWAY) last posted its earnings results on Tuesday, August 13th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.08. Lifeway Foods had a net margin of 7.69% and a return on equity of 21.92%. The company had revenue of $49.16 million for the quarter, compared to analyst estimates of $46.50 million. During the same period last year, the business posted $0.21 earnings per share. As a group, analysts anticipate that Lifeway Foods will post 0.99 EPS for the current year.

Insider Transactions at Lifeway Foods

In related news, CFO Eric A. Hanson sold 5,546 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $18.91, for a total transaction of $104,874.86. Following the sale, the chief financial officer now owns 25,546 shares of the company’s stock, valued at $483,074.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lifeway Foods news, VP Amy M. Feldman sold 12,948 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $18.57, for a total value of $240,444.36. Following the transaction, the vice president now owns 18,104 shares of the company’s stock, valued at approximately $336,191.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric A. Hanson sold 5,546 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $18.91, for a total value of $104,874.86. Following the completion of the transaction, the chief financial officer now directly owns 25,546 shares in the company, valued at $483,074.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,698 shares of company stock worth $887,612. Company insiders own 18.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Lifeway Foods by 2,334.0% in the 2nd quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock valued at $62,000 after buying an additional 4,668 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Lifeway Foods during the second quarter worth $82,000. Bailard Inc. acquired a new stake in shares of Lifeway Foods during the second quarter worth $253,000. Panagora Asset Management Inc. acquired a new stake in shares of Lifeway Foods during the second quarter worth $267,000. Finally, Bank of Montreal Can acquired a new stake in shares of Lifeway Foods during the second quarter worth $432,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

About Lifeway Foods

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.