Lakeland Industries (NASDAQ:LAKE) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Lakeland Industries, Inc. (NASDAQ:LAKE) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.74 and traded as high as $11.56. Lakeland Industries shares last traded at $11.48, with a volume of 136,073 shares traded.

Wall Street Analysts Forecast Growth

LAKE has been the subject of a number of research analyst reports. DA Davidson increased their price target on shares of Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings upgraded shares of Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Lake Street Capital dropped their target price on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a report on Friday, April 17th. Maxim Group set a $16.00 price target on shares of Lakeland Industries in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lakeland Industries has an average rating of “Hold” and an average price target of $16.00.

Lakeland Industries Price Performance

The company has a market cap of $113.31 million, a price-to-earnings ratio of -5.39 and a beta of 1.45. The company has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $9.74. The company has a quick ratio of 1.34, a current ratio of 3.09 and a debt-to-equity ratio of 0.20.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%.The business had revenue of $47.42 million during the quarter, compared to the consensus estimate of $47.36 million. On average, equities research analysts anticipate that Lakeland Industries, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lakeland Industries

Several hedge funds have recently added to or reduced their stakes in LAKE. Pacific Ridge Capital Partners LLC raised its position in Lakeland Industries by 62.3% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 772,015 shares of the medical instruments supplier’s stock worth $6,825,000 after acquiring an additional 296,222 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Lakeland Industries in the fourth quarter valued at approximately $604,000. Equitable Trust Co. increased its stake in shares of Lakeland Industries by 10.4% during the 4th quarter. Equitable Trust Co. now owns 29,990 shares of the medical instruments supplier’s stock worth $265,000 after purchasing an additional 2,820 shares in the last quarter. Salvus Wealth Management LLC purchased a new position in shares of Lakeland Industries during the 4th quarter worth approximately $122,000. Finally, Bank of America Corp DE raised its position in shares of Lakeland Industries by 173.9% during the 1st quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 12,171 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

About Lakeland Industries

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.