Li Bang International Shares Scheduled to Reverse Split on Monday, August 3rd (NASDAQ:LBGJ)

Li Bang International Corporation Inc. (NASDAQ:LBGJ) shares are going to reverse split on Monday, August 3rd. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

Li Bang International Stock Performance

Shares of NASDAQ LBGJ traded down $0.01 during midday trading on Thursday, reaching $0.02. The company had a trading volume of 88,036,586 shares, compared to its average volume of 56,908,312. The business’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $21.10. Li Bang International has a 1 year low of $0.02 and a 1 year high of $177.00. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09.

Li Bang International (NASDAQ:LBGJ) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.28) EPS for the quarter. The firm had revenue of $3.14 million for the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LBGJ. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Li Bang International in a research report on Friday, July 17th. Wall Street Zen upgraded Li Bang International to a “sell” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Li Bang International presently has a consensus rating of “Sell”.

Insider Buying and Selling at Li Bang International

In related news, major shareholder Financial Lp Hrt sold 1,086,186 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $0.03, for a total transaction of $32,585.58. Following the completion of the transaction, the insider owned 148,795 shares of the company’s stock, valued at $4,463.85. This trade represents a 87.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

About Li Bang International

Li Bang International Corporation Inc specializes in the research, development, production and sale of stainless steel commercial kitchen equipment under its own `Li Bang` brand principally in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Li Bang International Corporation Inc is based in Jiangyin, China.