Lannett Company, Inc. (NYSE:LCI) Short Interest Update

Lannett Company, Inc. (NYSE:LCI) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 16,909,700 shares, a decline of 17.8% from the June 30th total of 20,576,700 shares. Approximately 60.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 14.0 days.

A number of equities research analysts have commented on LCI shares. ValuEngine upgraded Lannett from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating, Lannett has an average rating of “Hold” and a consensus target price of $19.45.

Shares of NYSE LCI traded up $0.01 during trading on Thursday, reaching $6.49. The company had a trading volume of 411,785 shares, compared to its average volume of 1,345,634. The company’s fifty day moving average price is $6.29 and its 200-day moving average price is $7.07. Lannett has a 12 month low of $3.33 and a 12 month high of $13.80. The stock has a market cap of $264.45 million, a P/E ratio of 2.09 and a beta of 2.41. The company has a quick ratio of 2.12, a current ratio of 2.88 and a debt-to-equity ratio of 2.10.

Large investors have recently made changes to their positions in the company. Investors Research Corp acquired a new position in shares of Lannett in the 1st quarter valued at about $54,000. BNP Paribas Arbitrage SA lifted its stake in shares of Lannett by 105.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock valued at $55,000 after purchasing an additional 3,615 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Lannett in the 1st quarter valued at about $44,000. Sawtooth Solutions LLC acquired a new position in Lannett during the 1st quarter worth approximately $197,000. Finally, Telemus Capital LLC raised its stake in Lannett by 0.3% during the 1st quarter. Telemus Capital LLC now owns 7,902,326 shares of the company’s stock worth $62,191,000 after buying an additional 20,445 shares during the period. 82.07% of the stock is currently owned by institutional investors.

Lannett Company Profile

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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