Lifecore Biomedical (NASDAQ:LFCR) Trading Up 3.8% – Still a Buy?

Lifecore Biomedical, Inc. (NASDAQ:LFCR) was up 3.8% on Thursday . The company traded as high as $5.96 and last traded at $5.94. Approximately 97,498 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 242,917 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LFCR shares. Craig Hallum increased their price objective on Lifecore Biomedical from $8.00 to $10.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Stephens restated an “equal weight” rating and issued a $6.00 price objective on shares of Lifecore Biomedical in a report on Friday, January 3rd.

Lifecore Biomedical Stock Performance

The company has a debt-to-equity ratio of 9.21, a quick ratio of 1.21 and a current ratio of 2.32. The stock has a fifty day simple moving average of $6.62 and a two-hundred day simple moving average of $5.99. The stock has a market capitalization of $225.51 million, a price-to-earnings ratio of -10.88 and a beta of 0.96.

Lifecore Biomedical (NASDAQ:LFCR) last issued its quarterly earnings results on Thursday, January 2nd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Lifecore Biomedical had a negative return on equity of 315.23% and a negative net margin of 12.52%. Analysts forecast that Lifecore Biomedical, Inc. will post -0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul Josephs acquired 17,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were bought at an average price of $5.74 per share, with a total value of $97,580.00. Following the transaction, the chief executive officer now directly owns 559,717 shares of the company’s stock, valued at $3,212,775.58. This trade represents a 3.13 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 28.21% of the company’s stock.

Hedge Funds Weigh In On Lifecore Biomedical

A number of institutional investors and hedge funds have recently made changes to their positions in LFCR. Greenhaven Road Investment Management L.P. boosted its position in shares of Lifecore Biomedical by 62.2% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 3,616,146 shares of the company’s stock worth $26,868,000 after purchasing an additional 1,387,362 shares in the last quarter. Invesco Ltd. bought a new position in shares of Lifecore Biomedical during the 4th quarter worth about $4,128,000. DCF Advisers LLC boosted its position in shares of Lifecore Biomedical by 87.2% during the 4th quarter. DCF Advisers LLC now owns 539,989 shares of the company’s stock worth $4,012,000 after purchasing an additional 251,511 shares in the last quarter. 272 Capital LP boosted its position in shares of Lifecore Biomedical by 511.1% during the 3rd quarter. 272 Capital LP now owns 143,480 shares of the company’s stock worth $707,000 after purchasing an additional 120,002 shares in the last quarter. Finally, Alpha Wave Global LP bought a new position in shares of Lifecore Biomedical during the 4th quarter worth about $866,000. Institutional investors own 83.36% of the company’s stock.

About Lifecore Biomedical

Lifecore Biomedical, Inc, together with its subsidiaries, operates as an integrated contract development and manufacturing organization in the United States and internationally. The company engages in the manufacturing of pharmaceutical-grade sodium hyaluronate (HA) in bulk form, as well as formulated and filled syringes and vials for injectable products used in treating a range of medical conditions and procedures.