Lifeway Foods (NASDAQ:LWAY) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Lifeway Foods' stock has surpassed its 200-day moving average, indicating a potential bullish trend, with shares trading at $26.72 and reaching a high of $27.02.
• Analysts have raised price targets for Lifeway Foods, with Lake Street Capital increasing it from $30.00 to $33.00, reflecting a consensus rating of "Moderate Buy."
• The company reported quarterly earnings of $0.28 per share, beating expectations, while revenue was slightly below consensus at $53.90 million.

Shares of Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.84 and traded as high as $27.02. Lifeway Foods shares last traded at $26.72, with a volume of 106,080 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LWAY shares. Lake Street Capital upped their price target on Lifeway Foods from $30.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen raised Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Lifeway Foods in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Lifeway Foods Stock Up 1.1%

The company has a fifty day simple moving average of $29.16 and a 200 day simple moving average of $25.84. The firm has a market capitalization of $406.87 million, a P/E ratio of 38.73 and a beta of 0.46.

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

Insider Activity

In other news, major shareholder Edward Smolyansky sold 83,643 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total transaction of $2,167,190.13. Following the transaction, the insider directly owned 1,151,642 shares of the company's stock, valued at $29,839,044.22. This represents a 6.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 100,000 shares of company stock worth $2,602,741 over the last 90 days. Corporate insiders own 18.86% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. TIG Advisors LLC lifted its holdings in shares of Lifeway Foods by 55.9% during the first quarter. TIG Advisors LLC now owns 220,817 shares of the company's stock valued at $5,399,000 after purchasing an additional 79,218 shares in the last quarter. Beryl Capital Management LLC lifted its holdings in shares of Lifeway Foods by 33.3% during the first quarter. Beryl Capital Management LLC now owns 193,888 shares of the company's stock valued at $4,741,000 after purchasing an additional 48,439 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Lifeway Foods by 4.2% in the second quarter. Gamco Investors INC. ET AL now owns 149,550 shares of the company's stock valued at $3,686,000 after acquiring an additional 6,000 shares during the period. Geode Capital Management LLC lifted its holdings in Lifeway Foods by 6.6% in the second quarter. Geode Capital Management LLC now owns 124,726 shares of the company's stock valued at $3,075,000 after acquiring an additional 7,718 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Lifeway Foods by 52.6% in the second quarter. Gabelli Funds LLC now owns 98,644 shares of the company's stock valued at $2,432,000 after acquiring an additional 33,988 shares during the period. 36.39% of the stock is owned by institutional investors.

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.

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