Limoneira (NASDAQ:LMNR) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Limoneira Co (NASDAQ:LMNR)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.36 and traded as high as $13.96. Limoneira shares last traded at $13.92, with a volume of 73,182 shares changing hands.

Wall Street Analysts Forecast Growth

LMNR has been the subject of several recent analyst reports. Lake Street Capital dropped their price objective on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a research note on Wednesday, June 24th. Finally, HC Wainwright downgraded shares of Limoneira to a “buy” rating in a research note on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Limoneira presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Limoneira Stock Up 4.9%

The company’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $13.36. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The stock has a market cap of $252.37 million, a P/E ratio of -6.11 and a beta of 0.30.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Tuesday, June 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.08). Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. The firm had revenue of $23.93 million during the quarter, compared to analysts’ expectations of $21.42 million. As a group, research analysts expect that Limoneira Co will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Limoneira

Hedge funds have recently made changes to their positions in the company. Marquette Asset Management LLC bought a new position in shares of Limoneira during the 2nd quarter worth $608,000. Flax Pond Capital LLC raised its holdings in shares of Limoneira by 0.7% in the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock valued at $2,297,000 after acquiring an additional 1,224 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Limoneira by 5.5% in the first quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock valued at $222,000 after acquiring an additional 859 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Limoneira by 91.7% in the first quarter. Quantinno Capital Management LP now owns 62,758 shares of the company’s stock worth $842,000 after acquiring an additional 30,020 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Limoneira by 7.7% in the first quarter. Gamco Investors INC. ET AL now owns 293,200 shares of the company’s stock worth $3,935,000 after acquiring an additional 21,000 shares during the period. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.