Lifeway Foods, Inc. (NASDAQ:LWAY) Short Interest Down 27.9% in August

Key Points

• Short interest in Lifeway Foods, Inc. decreased by 27.9% in August to a total of 142,500 shares, indicating positive market sentiment.
• The company's stock price rose to $31.26, with a market capitalization of $476.09 million and a PE ratio of 45.31.
• Analysts have improved their outlook on Lifeway Foods, raising the stock's rating from "hold" to "buy" and providing a consensus target price of $33.00.

Lifeway Foods, Inc. (NASDAQ:LWAY - Get Free Report) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 142,500 shares, a decline of 27.9% from the July 31st total of 197,700 shares. Based on an average daily volume of 54,400 shares, the days-to-cover ratio is currently 2.6 days. Currently, 3.7% of the company's stock are short sold. Currently, 3.7% of the company's stock are short sold. Based on an average daily volume of 54,400 shares, the days-to-cover ratio is currently 2.6 days.

Insider Transactions at Lifeway Foods

In other Lifeway Foods news, Director Jason Scott Scher sold 16,366 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $24.24, for a total transaction of $396,711.84. Following the sale, the director directly owned 1 shares of the company's stock, valued at $24.24. The trade was a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 18.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lifeway Foods

A number of hedge funds have recently bought and sold shares of LWAY. Wells Fargo & Company MN boosted its holdings in Lifeway Foods by 33.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,855 shares of the company's stock valued at $71,000 after acquiring an additional 718 shares during the period. Barclays PLC raised its position in shares of Lifeway Foods by 11.0% during the fourth quarter. Barclays PLC now owns 7,127 shares of the company's stock valued at $176,000 after buying an additional 707 shares during the last quarter. Northern Trust Corp raised its position in shares of Lifeway Foods by 13.5% during the fourth quarter. Northern Trust Corp now owns 58,039 shares of the company's stock valued at $1,439,000 after buying an additional 6,915 shares during the last quarter. Algert Global LLC raised its position in shares of Lifeway Foods by 8.1% during the fourth quarter. Algert Global LLC now owns 9,076 shares of the company's stock valued at $225,000 after buying an additional 680 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Lifeway Foods during the fourth quarter valued at about $221,000. 36.39% of the stock is currently owned by institutional investors.

Lifeway Foods Price Performance

NASDAQ:LWAY traded up $0.65 during trading hours on Friday, reaching $33.42. The company's stock had a trading volume of 111,939 shares, compared to its average volume of 62,139. The company has a market cap of $508.99 million, a price-to-earnings ratio of 48.44 and a beta of 0.46. Lifeway Foods has a one year low of $19.50 and a one year high of $33.55. The business's 50-day moving average is $28.25 and its 200-day moving average is $25.09.

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

Analyst Ratings Changes

Several brokerages have issued reports on LWAY. Wall Street Zen raised shares of Lifeway Foods from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Lake Street Capital boosted their price target on shares of Lifeway Foods from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.00.

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.