Lakeland Industries, Inc. (NASDAQ:LAKE) Sees Large Decline in Short Interest
Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 32,300 shares, a decrease of 51.5% from the June 15th total of 66,600 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 24,000 shares, the days-to-cover ratio is currently 1.3 days.
A number of hedge funds have recently bought and sold shares of the stock. Private Capital Management LLC raised its stake in Lakeland Industries by 28.4% during the 1st quarter. Private Capital Management LLC now owns 713,265 shares of the medical instruments supplier’s stock worth $8,374,000 after buying an additional 157,625 shares during the period. Granite Investment Partners LLC raised its stake in shares of Lakeland Industries by 88.6% in the first quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock worth $597,000 after purchasing an additional 23,894 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Lakeland Industries in the first quarter worth approximately $1,723,000. Parthenon LLC raised its stake in shares of Lakeland Industries by 103.9% in the first quarter. Parthenon LLC now owns 85,538 shares of the medical instruments supplier’s stock worth $1,004,000 after purchasing an additional 43,596 shares during the last quarter. Finally, Teton Advisors Inc. raised its stake in shares of Lakeland Industries by 10.1% in the first quarter. Teton Advisors Inc. now owns 16,510 shares of the medical instruments supplier’s stock worth $194,000 after purchasing an additional 1,510 shares during the last quarter. 61.17% of the stock is currently owned by institutional investors and hedge funds.
LAKE has been the topic of a number of research reports. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th.
Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings results on Monday, June 10th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. The firm had revenue of $24.68 million for the quarter, compared to analyst estimates of $25.32 million. As a group, sell-side analysts predict that Lakeland Industries will post 0.15 EPS for the current year.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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