LGL Group (NYSEAMERICAN:LGL) Shares Break Above Fifty Day Moving Average – Here’s Why

LGL Group, Inc. (The) (NYSEAMERICAN:LGL)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $6.84 and traded as high as $6.90. LGL Group shares last traded at $6.90, with a volume of 7,854 shares changing hands.

LGL Group Trading Up 4.5%

The stock has a market cap of $87.01 million, a price-to-earnings ratio of -172.50 and a beta of 0.51. The stock has a fifty day simple moving average of $6.84 and a 200-day simple moving average of $7.03.

LGL Group (NYSEAMERICAN:LGL) last issued its quarterly earnings results on Friday, August 14th. The industrial products company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). LGL Group had a negative return on equity of 0.51% and a negative net margin of 5.04%. The business had revenue of $0.75 million during the quarter, compared to the consensus estimate of $0.80 million. Sell-side analysts forecast that LGL Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGL Group

Several hedge funds and other institutional investors have recently modified their holdings of LGL. Renaissance Technologies LLC increased its position in LGL Group by 3.6% during the first quarter. Renaissance Technologies LLC now owns 166,594 shares of the industrial products company’s stock worth $1,158,000 after acquiring an additional 5,773 shares during the period. BlackRock Inc. acquired a new position in LGL Group during the 2nd quarter valued at $93,000. Gamco Investors INC. ET AL raised its stake in LGL Group by 2.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 670,781 shares of the industrial products company’s stock valued at $4,662,000 after purchasing an additional 18,305 shares during the last quarter. Cable Car Capital LP acquired a new position in LGL Group during the 2nd quarter valued at $346,000. Finally, Bard Associates Inc. acquired a new position in LGL Group during the 2nd quarter valued at $3,378,000. Institutional investors and hedge funds own 30.28% of the company’s stock.

LGL Group Company Profile

The LGL Group, Inc. is an electronic components company that designs and manufactures precision frequency-control and timing products. Its product portfolio includes quartz crystals, crystal oscillators, temperature-compensated and oven-controlled crystal oscillators, voltage-controlled oscillators, filters, and related frequency-control modules. The company primarily serves customers that require accurate timing, synchronization, and signal-processing capabilities in applications such as telecommunications, aerospace and defense, industrial equipment, test and measurement, and other electronic systems.