Laird Superfood, Inc. (NYSEAMERICAN:LSF) Sees Significant Growth in Short Interest

Key Points

• Laird Superfood experienced a significant increase in short interest, rising by 25.2% in August to a total of 56,600 shares.
• Analysts have upgraded Laird Superfood to a "strong-buy" rating with a consensus target price of $12.00.
• Institutional investors own 8.56% of Laird Superfood's stock, with significant recent investments from firms like AWM Investment and Two Sigma Investments.

Laird Superfood, Inc. (NYSEAMERICAN:LSF - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 56,600 shares, a growth of 25.2% from the August 15th total of 45,200 shares. Based on an average daily volume of 37,700 shares, the short-interest ratio is currently 1.5 days. Currently, 0.8% of the company's shares are short sold. Currently, 0.8% of the company's shares are short sold. Based on an average daily volume of 37,700 shares, the short-interest ratio is currently 1.5 days.

Laird Superfood Trading Up 2.3%

Shares of Laird Superfood stock traded up $0.14 on Friday, hitting $6.10. The stock had a trading volume of 37,147 shares, compared to its average volume of 28,729. The stock has a market cap of $65.03 million, a price-to-earnings ratio of -55.45 and a beta of 2.17. Laird Superfood has a 52-week low of $3.76 and a 52-week high of $10.90. The company's 50 day moving average price is $6.27 and its 200 day moving average price is $6.19.

Institutional Investors Weigh In On Laird Superfood

A number of hedge funds have recently added to or reduced their stakes in LSF. XTX Topco Ltd acquired a new stake in shares of Laird Superfood in the 2nd quarter worth approximately $102,000. Citadel Advisors LLC acquired a new position in Laird Superfood during the fourth quarter worth about $234,000. Evernest Financial Advisors LLC purchased a new stake in shares of Laird Superfood in the second quarter valued at about $211,000. Acadian Asset Management LLC increased its stake in shares of Laird Superfood by 75.3% during the 1st quarter. Acadian Asset Management LLC now owns 46,104 shares of the company's stock worth $282,000 after purchasing an additional 19,806 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Laird Superfood by 17.1% during the 4th quarter. Two Sigma Investments LP now owns 68,137 shares of the company's stock valued at $537,000 after buying an additional 9,944 shares during the last quarter. Institutional investors and hedge funds own 8.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LSF shares. Maxim Group upgraded shares of Laird Superfood to a "strong-buy" rating and set a $12.00 price target for the company in a research note on Monday, June 30th. Craig Hallum upgraded shares of Laird Superfood to a "strong-buy" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Laird Superfood has an average rating of "Strong Buy" and a consensus price target of $12.00.

About Laird Superfood

Laird Superfood, Inc manufactures and markets plant-based natural and functional food in the United States. The company provides powdered and liquid coffee creamers, and hydration and beverage enhancing supplements; hydrate coconut water products; performance mushroom supplements; functional, organic roasted, and instant coffee, tea, hot chocolate products; harvest snacks; and other food items.