Landec (NASDAQ:LNDC) announced its earnings results on Tuesday. The basic materials company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.12), Fidelity Earnings reports. Landec had a negative return on equity of 1.53% and a negative net margin of 6.00%. During the same period last year, the company earned ($0.11) EPS.
NASDAQ:LNDC traded down $1.07 during trading hours on Thursday, hitting $9.21. The company had a trading volume of 4,312 shares, compared to its average volume of 128,367. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $10.74 and a 200 day moving average of $11.20. The company has a market cap of $271.35 million, a P/E ratio of -8.11 and a beta of 1.05. Landec has a 1 year low of $9.19 and a 1 year high of $12.88.
An institutional investor recently raised its position in Landec stock. Morgan Stanley lifted its holdings in shares of Landec Co. (NASDAQ:LNDC) by 134.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,114 shares of the basic materials company’s stock after purchasing an additional 20,117 shares during the quarter. Morgan Stanley owned about 0.12% of Landec worth $394,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 87.59% of the company’s stock.
Landec Company Profile
Landec Corp. engages in the design, development, manufacture, and sale of health and wellness products for food and biomaterials markets. It operates through the following segments: Curation Foods, Lifecore, and Others. The Curation Foods segment includes activities to market and pack specialty packaged whole and fresh-cut fruit and vegetables.
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