Lifeway Foods (NASDAQ:LWAY) Shares Cross Above 200 Day Moving Average - Time to Sell?

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $25.74 and traded as high as $27.82. Lifeway Foods shares last traded at $27.76, with a volume of 118,861 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LWAY shares. Lake Street Capital lifted their price target on shares of Lifeway Foods from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $33.00.

Lifeway Foods Price Performance

The stock's 50-day moving average price is $29.13 and its 200 day moving average price is $25.74. The firm has a market cap of $422.78 million, a P/E ratio of 40.23 and a beta of 0.46.

Lifeway Foods (NASDAQ:LWAY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.10. The business had revenue of $53.90 million for the quarter, compared to analyst estimates of $54.00 million. Lifeway Foods had a net margin of 5.49% and a return on equity of 14.32%.

Insiders Place Their Bets

In related news, major shareholder Edward Smolyansky sold 10,000 shares of the business's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $26.69, for a total transaction of $266,900.00. Following the transaction, the insider directly owned 1,235,285 shares in the company, valued at approximately $32,969,756.65. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.86% of the company's stock.

Hedge Funds Weigh In On Lifeway Foods

A number of institutional investors have recently added to or reduced their stakes in LWAY. Rhumbline Advisers increased its holdings in Lifeway Foods by 8.2% during the first quarter. Rhumbline Advisers now owns 6,068 shares of the company's stock worth $148,000 after buying an additional 462 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Lifeway Foods by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 57,403 shares of the company's stock worth $1,403,000 after buying an additional 1,562 shares during the last quarter. Towerview LLC increased its holdings in Lifeway Foods by 107.1% during the first quarter. Towerview LLC now owns 72,500 shares of the company's stock worth $1,773,000 after buying an additional 37,500 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Lifeway Foods during the first quarter worth $221,000. Finally, JBF Capital Inc. acquired a new position in shares of Lifeway Foods in the first quarter valued at $672,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Lifeway Foods Company Profile

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.

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