Short Interest in Li Bang International Corporation Inc. (NASDAQ:LBGJ) Drops By 49.0%

Li Bang International Corporation Inc. (NASDAQ:LBGJ) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 58,428 shares, a decrease of 49.0% from the August 15th total of 114,481 shares. Currently, 584.3% of the company’s shares are short sold. Based on an average daily volume of 330,918 shares, the short-interest ratio is currently 0.2 days.

Li Bang International Trading Down 1.9%

NASDAQ:LBGJ opened at $2.05 on Thursday. The firm has a 50-day simple moving average of $50.31 and a 200-day simple moving average of $325.60. Li Bang International has a one year low of $1.91 and a one year high of $30,900.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.15.

Insiders Place Their Bets

In related news, Director Funa Li bought 15,088 shares of Li Bang International stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $3.40 per share, with a total value of $51,299.20. Following the completion of the transaction, the director owned 15,220 shares in the company, valued at $51,748. The trade was a 11,430.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Financial Lp Hrt sold 5,430 shares of Li Bang International stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $6.00, for a total transaction of $32,580.00. Following the sale, the insider directly owned 743 shares of the company’s stock, valued at $4,458. This represents a 87.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 93,578 shares of company stock worth $332,057 in the last three months.

Analysts Set New Price Targets

A number of brokerages have weighed in on LBGJ. Wall Street Zen raised Li Bang International to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded Li Bang International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

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.