Short Interest in Lakeland Industries, Inc. (NASDAQ:LAKE) Increases By 27.4%

Lakeland Industries, Inc. (NASDAQ:LAKE) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 1,458,540 shares, a growth of 27.4% from the November 30th total of 1,144,580 shares. Based on an average daily trading volume, of 544,782 shares, the days-to-cover ratio is presently 2.7 days. Currently, 15.2% of the company’s stock are sold short. Currently, 15.2% of the company’s stock are sold short. Based on an average daily trading volume, of 544,782 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LAKE shares. Lake Street Capital reduced their price target on shares of Lakeland Industries from $26.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Wall Street Zen lowered shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Roth Capital lowered their price target on shares of Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Zacks Research downgraded shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lakeland Industries in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lakeland Industries has an average rating of “Hold” and a consensus target price of $16.50.

Lakeland Industries Stock Up 4.1%

NASDAQ LAKE traded up $0.35 during trading on Thursday, hitting $8.84. 313,231 shares of the company traded hands, compared to its average volume of 467,324. Lakeland Industries has a 12 month low of $7.77 and a 12 month high of $27.28. The business has a fifty day simple moving average of $13.33 and a 200 day simple moving average of $14.19. The company has a market capitalization of $86.72 million, a P/E ratio of -2.01 and a beta of 1.33. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter. Lakeland Industries had a negative return on equity of 7.80% and a negative net margin of 19.41%.The firm had revenue of $27.47 million during the quarter. As a group, sell-side analysts predict that Lakeland Industries will post 0.48 EPS for the current year.

Lakeland Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, November 17th. Lakeland Industries’s dividend payout ratio (DPR) is -2.73%.

Insider Buying and Selling at Lakeland Industries

In other Lakeland Industries news, CFO Roger D. Shannon sold 8,869 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $8.06, for a total transaction of $71,484.14. Following the completion of the sale, the chief financial officer directly owned 36,026 shares in the company, valued at approximately $290,369.56. This trade represents a 19.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.91% of the company’s stock.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 839 shares during the last quarter. Salem Investment Counselors Inc. acquired a new stake in Lakeland Industries in the 2nd quarter valued at approximately $28,000. Police & Firemen s Retirement System of New Jersey bought a new position in Lakeland Industries in the 2nd quarter worth approximately $31,000. Tripletail Wealth Management LLC acquired a new position in shares of Lakeland Industries during the third quarter worth approximately $49,000. Finally, Bank of America Corp DE boosted its position in shares of Lakeland Industries by 189.9% in the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock valued at $57,000 after acquiring an additional 2,736 shares during the period. 71.69% of the stock is currently owned by institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.