Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Down 13.4% in December

Lakeland Industries, Inc. (NASDAQ:LAKEGet Rating) was the target of a large decline in short interest in the month of December. As of December 30th, there was short interest totalling 152,000 shares, a decline of 13.4% from the December 15th total of 175,500 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 41,900 shares, the short-interest ratio is currently 3.6 days.

Lakeland Industries Stock Down 2.8 %

Shares of LAKE opened at $14.08 on Monday. Lakeland Industries has a fifty-two week low of $11.13 and a fifty-two week high of $21.37. The firm’s 50 day moving average price is $13.45 and its 200 day moving average price is $13.49. The company has a market cap of $103.07 million, a P/E ratio of 35.20 and a beta of 0.47.

Lakeland Industries (NASDAQ:LAKEGet Rating) last announced its earnings results on Thursday, December 8th. The medical instruments supplier reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.07). Lakeland Industries had a return on equity of 4.14% and a net margin of 2.78%. The business had revenue of $28.39 million for the quarter, compared to analysts’ expectations of $29.10 million. Research analysts forecast that Lakeland Industries will post 0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Lakeland Industries in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Lakeland Industries

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Lakeland Industries by 1.2% during the 1st quarter. Royal Bank of Canada now owns 68,473 shares of the medical instruments supplier’s stock worth $1,314,000 after buying an additional 799 shares during the period. UBS Group AG grew its holdings in Lakeland Industries by 64.2% during the 1st quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock worth $45,000 after acquiring an additional 918 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Lakeland Industries by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 38,910 shares of the medical instruments supplier’s stock worth $747,000 after acquiring an additional 969 shares in the last quarter. State Street Corp grew its holdings in Lakeland Industries by 4.4% during the 1st quarter. State Street Corp now owns 29,161 shares of the medical instruments supplier’s stock worth $560,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Equitable Trust Co. grew its holdings in Lakeland Industries by 5.7% during the 3rd quarter. Equitable Trust Co. now owns 24,985 shares of the medical instruments supplier’s stock worth $288,000 after acquiring an additional 1,340 shares in the last quarter. 69.98% of the stock is owned by hedge funds and other institutional investors.

About Lakeland Industries

(Get Rating)

Lakeland Industries, Inc engages in the manufacture and sale of safety garments and accessories for the industrial and public protective clothing market. It operates through the Domestic and International geographical segments. The firm’s products include disposable protective clothing, chemical protective clothing, woven protective clothing, fire protective gear, heat protective clothing, reflective protective clothing, hand and arm protection, arc or fire-retardant rated rainwear, and fire-retardant protective clothing.

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