Lifecore Biomedical (NASDAQ:LFCR) Stock Price Down 0.6% - Here's Why

Key Points

• Lifecore Biomedical's stock price decreased by 0.6% to $6.49, with trading volume down 29% compared to its average session volume.
• Analysts assigned a consensus rating of "Hold" for the stock, with an average target price of $8.00, while noting mixed ratings from various research firms.
• The company reported a $0.22 loss per share in its last quarterly earnings and holds a debt-to-equity ratio of 113.76, reflecting potential financial concerns.

Lifecore Biomedical, Inc. (NASDAQ:LFCR - Get Free Report)'s stock price traded down 0.6% on Friday . The company traded as low as $6.44 and last traded at $6.49. 166,814 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 234,314 shares. The stock had previously closed at $6.53.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp assumed coverage on Lifecore Biomedical in a research report on Wednesday, September 3rd. They issued a "sector weight" rating on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Lifecore Biomedical in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Lifecore Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.00.

Lifecore Biomedical Trading Down 0.6%

The company has a debt-to-equity ratio of 113.76, a current ratio of 2.84 and a quick ratio of 1.77. The company has a market cap of $243.15 million, a price-to-earnings ratio of -4.95 and a beta of 0.62. The business has a 50 day simple moving average of $7.30 and a 200 day simple moving average of $7.10.

Lifecore Biomedical (NASDAQ:LFCR - Get Free Report) last issued its quarterly earnings results on Monday, April 1st. The company reported ($0.22) earnings per share (EPS) for the quarter. Lifecore Biomedical had a negative net margin of 31.70% and a negative return on equity of 846.51%. The firm had revenue of $26.54 million for the quarter. Lifecore Biomedical has set its FY 2024 guidance at EPS. As a group, equities analysts forecast that Lifecore Biomedical, Inc. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Lifecore Biomedical

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Lifecore Biomedical by 1,839.7% during the first quarter. GAMMA Investing LLC now owns 3,569 shares of the company's stock valued at $25,000 after acquiring an additional 3,385 shares during the period. Summit Securities Group LLC acquired a new position in shares of Lifecore Biomedical during the first quarter valued at $26,000. Hurley Capital LLC acquired a new position in shares of Lifecore Biomedical during the first quarter valued at $35,000. State of Wyoming acquired a new position in shares of Lifecore Biomedical during the second quarter valued at $69,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Lifecore Biomedical during the second quarter valued at $88,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.