Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Down 67.2% in July

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 10,600 shares, a decrease of 67.2% from the June 30th total of 32,300 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 23,900 shares, the short-interest ratio is presently 0.4 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Capital Management LLC grew its stake in Lakeland Industries by 28.4% during the first quarter. Private Capital Management LLC now owns 713,265 shares of the medical instruments supplier’s stock valued at $8,374,000 after acquiring an additional 157,625 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in Lakeland Industries during the first quarter valued at $1,723,000. Parthenon LLC grew its stake in Lakeland Industries by 103.9% during the first quarter. Parthenon LLC now owns 85,538 shares of the medical instruments supplier’s stock valued at $1,004,000 after acquiring an additional 43,596 shares in the last quarter. Granite Investment Partners LLC grew its stake in Lakeland Industries by 88.6% during the first quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock valued at $597,000 after acquiring an additional 23,894 shares in the last quarter. Finally, Teton Advisors Inc. grew its stake in Lakeland Industries by 10.1% during the first quarter. Teton Advisors Inc. now owns 16,510 shares of the medical instruments supplier’s stock valued at $194,000 after acquiring an additional 1,510 shares in the last quarter. 61.16% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on LAKE shares. Zacks Investment Research cut shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 24th. ValuEngine raised shares of Lakeland Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st.

Shares of NASDAQ LAKE traded down $0.25 during midday trading on Monday, reaching $11.18. The stock had a trading volume of 22,700 shares, compared to its average volume of 21,336. The business’s 50-day simple moving average is $10.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.01 and a quick ratio of 2.09. The company has a market cap of $92.24 million, a P/E ratio of 27.27 and a beta of 0.58. Lakeland Industries has a 12-month low of $9.70 and a 12-month high of $14.44.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Monday, June 10th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.14). The firm had revenue of $24.68 million during the quarter, compared to analysts’ expectations of $25.32 million. Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. Sell-side analysts predict that Lakeland Industries will post 0.15 earnings per share for the current fiscal year.

About Lakeland Industries

Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.

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