Limoneira (NASDAQ:LMNR) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Limoneira shares crossed above their 200-day moving average, reaching $13.66 before closing around $13.45, compared with a 200-day average of $13.42.
• Analyst views remain mixed: three rate the stock a Buy, two Hold, and one Sell. The overall consensus is Hold, with an average price target of $18.00.
• Limoneira’s latest quarter showed a wider-than-expected loss of $0.29 per share, although revenue of $23.93 million exceeded estimates. The company continues to report negative profitability metrics, including a 30.50% net margin and 13.94% return on equity.

Limoneira Co (NASDAQ:LMNR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.42 and traded as high as $13.66. Limoneira shares last traded at $13.45, with a volume of 74,678 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Lake Street Capital cut their target price on shares of Limoneira from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, June 10th. Weiss Ratings reissued a "sell (d)" rating on shares of Limoneira in a report on Wednesday, June 24th. Finally, HC Wainwright downgraded Limoneira to a "buy" rating in a research note on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.00.

Limoneira Stock Down 0.4%

The company's 50-day simple moving average is $13.06 and its two-hundred day simple moving average is $13.42. The firm has a market capitalization of $243.85 million, a P/E ratio of -5.90 and a beta of 0.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.68 and a quick ratio of 1.53.

Limoneira (NASDAQ:LMNR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.08). The company had revenue of $23.93 million during the quarter, compared to analysts' expectations of $21.42 million. Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%. As a group, research analysts expect that Limoneira Co will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in Limoneira by 64.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company's stock worth $27,000 after acquiring an additional 668 shares during the period. Leonteq Securities AG boosted its position in shares of Limoneira by 88.8% in the first quarter. Leonteq Securities AG now owns 3,386 shares of the company's stock worth $45,000 after purchasing an additional 1,593 shares during the period. MetLife Investment Management LLC boosted its position in shares of Limoneira by 45.0% in the fourth quarter. MetLife Investment Management LLC now owns 9,765 shares of the company's stock worth $123,000 after purchasing an additional 3,029 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Limoneira in the third quarter worth $151,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Limoneira in the fourth quarter worth $150,000. Institutional investors own 64.35% of the company's stock.

Limoneira Company Profile

Limoneira Company NASDAQ: LMNR, founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company's vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.

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