It is trading at $15.45 which is a tad above $14.43, the stock’s 50 day moving average and significantly above the 200 day moving average of $13.36. The 50 day moving average went up $1.02 or +7.06% and the 200 day average was up $2.09. (NASDAQ:LAKE) shares saw light trading volume with 4,331 shares changing hands on Tuesday. Shares saw a steep decrease in trading volume of 82.02% under the normal average daily volume.
Short traders are feeling a little more bullish on Lakeland Industries, Inc. lately looking at the fall in short interest. The firm experienced a fall in short interest of -44.43% as of September 29, 2017 from the last reporting period. Short interest fell from 209,733 to 116,555 over that period. Days to cover decreased from 3.0 to 2.0 and the short interest percentage is 0.02% as of September 29.
These firms have modified their investment in LAKE. Hightower Advisors, LLC expanded its ownership by buying 2,668 shares an increase of 6.5%. Hightower Advisors, LLC claims 43,665 shares with a value of $631,000. The value of the position overall is up by 42.4%. As of quarter end Ubs Group Ag had sold a total of 998 shares trimming its holdings by 87.5%. The value of the company’s investment in Lakeland Industries, Inc. decreased from $12,000 to $2,000 decreasing 83.3% quarter to quarter.
North Star Investment Management Corp. bolstered its holdings by buying 98,850 shares an increase of 411.9% from 06/30/2017 to 09/30/2017. North Star Investment Management Corp. controls 122,850 shares worth $1,732,000. The total value of its holdings increased 397.7%. As of the end of the quarter Acadian Asset Management LLC had acquired 49,714 shares growing its position 5,211.1%. The value of the investment in LAKE went from $14,000 to $715,000 a change of 5,007.1% quarter over quarter.
Roth Capital began coverage of the stock with an initial rating of “Buy”.
The P/E ratio is currently 18.84 and the market cap of the company is 124.09M. As of the last earnings report the EPS was $0.82 and is estimated to be $0.85 for the current year with 8,032,000 shares outstanding. Next quarter’s EPS is expected be $0.18 with next year’s EPS projected to be $0.89.
Lakeland Industries, Inc. (Lakeland), launched on April 30, 1986, manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Business’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves. The Business’s products are sold by its in-house customer service group, its regional sales managers and independent sales representatives to a network of over 1,200 North American safety and mill supply distributors. These distributors in turn supply end user industrial customers, such as integrated oil, chemical/petrochemical, utilities, automobile, steel, glass, construction, smelting, munition plants, janitorial, pharmaceutical, mortuaries and high technology electronics manufacturers, as well as scientific and medical laboratories..