Short Interest in Lakeland Industries, Inc. (NASDAQ:LAKE) Drops By 22.8%

Key Points

• Short interest in Lakeland Industries dropped by 22.8% in August, totaling 1,050,000 shares as of August 31st, representing approximately 11.3% of the stock sold short.
• The company's latest earnings report revealed an EPS of $0.36, significantly above the consensus estimate of ($0.04), despite revenues falling short of projections at $52.50 million.
• Lakeland Industries recently declared a quarterly dividend of $0.03, yielding an annualized return of 0.8%, although it operates with a negative dividend payout ratio of -4.38%.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 1,050,000 shares, a drop of 22.8% from the August 15th total of 1,360,000 shares. Approximately 11.3% of the company's shares are short sold. Based on an average daily volume of 187,700 shares, the days-to-cover ratio is currently 5.6 days. Based on an average daily volume of 187,700 shares, the days-to-cover ratio is currently 5.6 days. Approximately 11.3% of the company's shares are short sold.

Institutional Trading of Lakeland Industries

Several institutional investors and hedge funds have recently modified their holdings of LAKE. Salem Investment Counselors Inc. bought a new stake in shares of Lakeland Industries during the 2nd quarter worth $28,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Lakeland Industries in the second quarter valued at about $31,000. Bank of America Corp DE increased its stake in shares of Lakeland Industries by 189.9% in the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock valued at $57,000 after buying an additional 2,736 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Lakeland Industries in the second quarter valued at about $59,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lakeland Industries in the second quarter valued at about $68,000. 71.69% of the stock is currently owned by institutional investors.

Lakeland Industries Stock Performance

Shares of LAKE stock traded down $0.22 during trading on Friday, reaching $14.65. 257,035 shares of the company's stock were exchanged, compared to its average volume of 119,139. The firm's fifty day moving average price is $14.59 and its 200-day moving average price is $16.22. The stock has a market capitalization of $140.22 million, a PE ratio of -5.35 and a beta of 1.11. The company has a quick ratio of 1.41, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. Lakeland Industries has a twelve month low of $12.76 and a twelve month high of $27.28.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last released its earnings results on Tuesday, September 9th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.40. Lakeland Industries had a negative return on equity of 3.07% and a negative net margin of 11.22%.The firm had revenue of $52.50 million during the quarter, compared to the consensus estimate of $54.59 million. Lakeland Industries has set its FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Lakeland Industries will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Lakeland Industries's dividend payout ratio is currently -4.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LAKE shares. Lake Street Capital set a $26.00 price objective on Lakeland Industries and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen upgraded Lakeland Industries from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. DA Davidson decreased their target price on Lakeland Industries from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Finally, Zacks Research upgraded Lakeland Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $25.00.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.