Lannett (NYSE:LCI) Shares Pass Below Fifty Day Moving Average of $1.62
The stock of Lannett Company, Inc. crossed below its 50-day moving average of $1.62 during trading on Tuesday, as low as $0.65.
( crossed below its fifty-day moving median during trading on the Tuesday. Stock has a moving average of 1,62 dollars and traded as low at $0.65. Lannett shares were last traded at $0.69 with a total volume of 280 600 shares.
Wall Street analysts weigh in
In a report published on Wednesday, the research team began covering shares of Lannett. The 50-day average of the stock is $1.62, and its 200 day average is $2.04. The company has a $7.38 million market capitalization, a P/E ratio of 0.04, and a beta value of 0.95.
The company last announced its earnings on February 1st. The company posted ($1.36) per share earnings for the quarter. This was $0.28 higher than analysts' expectations of ($1.64). Revenue for the quarter was $80.89 millions, which is higher than the $72.98 million consensus estimate. Analysts expect Lannett Company, Inc. to post an average -6.16 earnings per share for the current financial year.
Lannett: Institutional investors weigh in
Some institutional investors recently increased or decreased their stakes in LCI. Acadian Asset Management LLC purchased a new share of Lannett valued at $102,000 in the first quarter. Renaissance Technologies LLC increased its holdings in Lannett shares by 12.0% during the first quarter. Renaissance Technologies LLC owns 2,303.103 shares valued at $1.815,000, after buying an additional 247.566 shares in the last quarter. Invesco Ltd. increased its stake in Lannett shares by 152.7% during the first quarter. Invesco Ltd. owns now 334,876 of the company stock valued at $254,000 after buying an additional 202 360 shares during the previous quarter. Atria Wealth Solutions Inc. purchased a new share of Lannett valued at $112,000 in the first quarter. Goldman Sachs Group Inc. increased its holdings in Lannett shares by 88.2% during the second quarter. Goldman Sachs Group Inc. owns now 43,408 of the stock company valued at $25,000. This is after buying an additional 20,348 during the last quarter. Institutional investors own 40.28%.
Lannett Company Profile
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Lannett Co. Inc is engaged in the manufacture, marketing, distribution, and development of generic pharmaceutical products. The company offers a variety of products, including liquids, tablets and powders. The company was established in 1942 with its headquarters in Trevose.
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