LRAD Corp (NASDAQ:LRAD) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 60,500 shares, a drop of 12.1% from the July 31st total of 68,800 shares. Based on an average trading volume of 97,700 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the shares of the company are sold short.
Shares of NASDAQ LRAD traded up $0.02 during midday trading on Thursday, hitting $3.20. The company had a trading volume of 12,768 shares, compared to its average volume of 78,448. LRAD has a twelve month low of $2.08 and a twelve month high of $4.24. The business has a 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $3.30. The firm has a market capitalization of $104.30 million, a price-to-earnings ratio of -53.33 and a beta of 0.36.
LRAD (NASDAQ:LRAD) last announced its quarterly earnings data on Monday, August 12th. The scientific and technical instruments company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). LRAD had a net margin of 1.29% and a return on equity of 1.25%. The company had revenue of $8.86 million during the quarter, compared to analyst estimates of $11.10 million. Research analysts forecast that LRAD will post 0.06 earnings per share for the current fiscal year.
Several analysts recently commented on LRAD shares. Zacks Investment Research cut shares of LRAD from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. CIBC started coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price objective for the company. Oppenheimer started coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price objective for the company. UBS Group started coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, TheStreet cut shares of LRAD from a “b-” rating to a “c” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.00.
In other news, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $4.02, for a total value of $402,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott L. Anchin sold 25,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $3.13, for a total transaction of $78,250.00. Following the completion of the sale, the director now owns 56,005 shares of the company’s stock, valued at approximately $175,295.65. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthTrust Axiom LLC lifted its stake in shares of LRAD by 53.0% in the second quarter. WealthTrust Axiom LLC now owns 15,300 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 5,300 shares during the period. Cutter & CO Brokerage Inc. purchased a new position in LRAD during the 2nd quarter valued at about $112,000. Pointe Capital Management LLC purchased a new position in LRAD during the 2nd quarter valued at about $33,000. Marshall Wace LLP purchased a new position in LRAD during the 1st quarter valued at about $35,000. Finally, Vanguard Group Inc. increased its holdings in LRAD by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,179,323 shares of the scientific and technical instruments company’s stock valued at $3,880,000 after acquiring an additional 140,202 shares in the last quarter. Hedge funds and other institutional investors own 49.62% of the company’s stock.
LRAD Company Profile
LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.
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