Laird Superfood (NYSEAMERICAN:LSF) Shares Down 1.2% – Here’s Why

Laird Superfood, Inc. (NYSEAMERICAN:LSF) traded down 1.2% during trading on Monday. The stock traded as low as $3.35 and last traded at $3.41. 29,630 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 24,243 shares. The stock had previously closed at $3.45.

Analysts Set New Price Targets

Several brokerages have issued reports on LSF. Zacks Research raised shares of Laird Superfood from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Maxim Group increased their price objective on shares of Laird Superfood from $6.00 to $10.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Roth Capital restated a “buy” rating and issued a $6.00 target price on shares of Laird Superfood in a report on Friday, August 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Laird Superfood Stock Up 3.4%

The company has a market cap of $40.40 million, a price-to-earnings ratio of -9.02 and a beta of 2.73. The stock’s 50-day simple moving average is $4.01 and its 200 day simple moving average is $3.62.

Laird Superfood (NYSEAMERICAN:LSF) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.17). Laird Superfood had a negative net margin of 3.95% and a negative return on equity of 20.39%. The company had revenue of $41.29 million during the quarter, compared to analysts’ expectations of $35.15 million. On average, sell-side analysts expect that Laird Superfood, Inc. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Laird Superfood

An institutional investor recently raised its position in Laird Superfood stock. Finley Financial LLC grew its holdings in Laird Superfood, Inc. (NYSEAMERICAN:LSF) by 100.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Finley Financial LLC owned 0.45% of Laird Superfood worth $235,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.56% of the company’s stock.

Laird Superfood Company Profile

Laird Superfood, Inc develops and sells functional food and beverage products designed to support daily nutrition and wellness. Its product portfolio includes plant-based coffee creamers, instant coffee, hydration and performance supplements, mushroom-based products, hot chocolate, protein products and natural sweeteners.

The company was founded in 2015 by professional big-wave surfer Laird Hamilton and entrepreneur Paul Hodge. Its products are marketed under the Laird Superfood brand and are available through the company’s website, online retailers and selected retail stores, primarily serving consumers in the United States.

Laird Superfood emphasizes plant-based ingredients and formulations intended to complement coffee, exercise and everyday routines.