Lifeway Foods, Inc. (NASDAQ:LWAY) Short Interest Update

Lifeway Foods, Inc. (NASDAQ:LWAY) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 209,700 shares, a growth of 62.4% from the September 30th total of 129,100 shares. Based on an average daily trading volume, of 122,200 shares, the short-interest ratio is currently 1.7 days. Currently, 4.0% of the shares of the stock are sold short. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 122,200 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LWAY. Wall Street Zen upgraded Lifeway Foods from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Lifeway Foods in a report on Wednesday, October 8th. Finally, Lake Street Capital raised their price objective on Lifeway Foods from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. One 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 a consensus price target of $33.00.

Insider Buying and Selling

In other news, major shareholder Edward Smolyansky sold 83,643 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $25.91, for a total transaction of $2,167,190.13. Following the transaction, the insider owned 1,151,642 shares in the company, valued at $29,839,044.22. This trade represents a 6.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ludmila Smolyansky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $26.44, for a total value of $264,400.00. Following the transaction, the insider owned 832,823 shares in the company, valued at $22,019,840.12. This trade represents a 1.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,000 shares of company stock worth $2,998,741 in the last quarter. Insiders own 18.86% of the company’s stock.

Institutional Trading of Lifeway Foods

Several institutional investors and hedge funds have recently bought and sold shares of LWAY. TIG Advisors LLC boosted its stake in Lifeway Foods by 55.9% during the first quarter. TIG Advisors LLC now owns 220,817 shares of the company’s stock worth $5,399,000 after buying an additional 79,218 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Lifeway Foods during the 1st quarter worth approximately $1,490,000. Beryl Capital Management LLC increased its holdings in Lifeway Foods by 33.3% in the 1st quarter. Beryl Capital Management LLC now owns 193,888 shares of the company’s stock valued at $4,741,000 after purchasing an additional 48,439 shares during the last quarter. Gabelli Funds LLC raised its position in Lifeway Foods by 297.4% in the first quarter. Gabelli Funds LLC now owns 64,656 shares of the company’s stock valued at $1,581,000 after purchasing an additional 48,388 shares during the period. Finally, Slotnik Capital LLC lifted its stake in Lifeway Foods by 82.5% during the first quarter. Slotnik Capital LLC now owns 96,746 shares of the company’s stock worth $2,365,000 after purchasing an additional 43,746 shares in the last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

Lifeway Foods Stock Performance

LWAY stock opened at $23.99 on Friday. Lifeway Foods has a one year low of $19.50 and a one year high of $34.20. The firm has a market cap of $365.37 million, a PE ratio of 34.77 and a beta of 0.46. The firm’s 50 day moving average price is $28.26 and its 200-day moving average price is $26.13.

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

Lifeway Foods Company Profile

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.