Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Update

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the target of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 27,867 shares, a decrease of 88.6% from the July 30th total of 243,976 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 38,348 shares, the days-to-cover ratio is presently 0.7 days.

Lexaria Bioscience Stock Performance

Shares of LEXX stock traded down $0.03 during mid-day trading on Wednesday, hitting $11.57. 2,784 shares of the stock traded hands, compared to its average volume of 13,593. Lexaria Bioscience has a twelve month low of $4.21 and a twelve month high of $23.25. The company’s 50-day simple moving average is $8.31 and its 200-day simple moving average is $10.06. The firm has a market cap of $19.10 million, a price-to-earnings ratio of -2.27 and a beta of 0.38.

Lexaria Bioscience (NASDAQ:LEXX) last announced its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Analysts forecast that Lexaria Bioscience will post -4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lexaria Bioscience presently has a consensus rating of “Hold” and an average price target of $22.50.

Hedge Funds Weigh In On Lexaria Bioscience

A hedge fund recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC bought a new position in Lexaria Bioscience Corp. (NASDAQ:LEXX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.