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.
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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