Lifeway Foods (NASDAQ:LWAY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Lifeway Foods, Inc. (NASDAQ:LWAY)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.74 and traded as high as $27.82. Lifeway Foods shares last traded at $27.76, with a volume of 118,861 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Lifeway Foods from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Lake Street Capital increased their target price on shares of Lifeway Foods from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $33.00.

Lifeway Foods Trading Up 2.7%

The firm’s 50-day moving average is $29.13 and its 200-day moving average is $25.74. The firm has a market cap of $422.78 million, a price-to-earnings ratio of 40.23 and a beta of 0.46.

Lifeway Foods (NASDAQ:LWAY) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Lifeway Foods had a return on equity of 14.32% and a net margin of 5.49%.The business had revenue of $53.90 million for the quarter, compared to analysts’ expectations of $54.00 million.

Insiders Place Their Bets

In other Lifeway Foods news, major shareholder Edward Smolyansky sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $26.69, for a total transaction of $266,900.00. Following the transaction, the insider directly owned 1,235,285 shares in the company, valued at approximately $32,969,756.65. This trade represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.86% of the company’s stock.

Institutional Investors Weigh In On Lifeway Foods

A number of hedge funds have recently made changes to their positions in the business. TIG Advisors LLC raised its stake in shares of Lifeway Foods by 55.9% during the 1st quarter. TIG Advisors LLC now owns 220,817 shares of the company’s stock worth $5,399,000 after purchasing an additional 79,218 shares during the period. Beryl Capital Management LLC raised its stake in shares of Lifeway Foods by 33.3% during the 1st quarter. Beryl Capital Management LLC now owns 193,888 shares of the company’s stock worth $4,741,000 after purchasing an additional 48,439 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of Lifeway Foods by 4.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 149,550 shares of the company’s stock worth $3,686,000 after purchasing an additional 6,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Lifeway Foods by 6.6% during the 2nd quarter. Geode Capital Management LLC now owns 124,726 shares of the company’s stock worth $3,075,000 after purchasing an additional 7,718 shares during the period. Finally, Gabelli Funds LLC raised its stake in shares of Lifeway Foods by 52.6% during the 2nd quarter. Gabelli Funds LLC now owns 98,644 shares of the company’s stock worth $2,432,000 after purchasing an additional 33,988 shares during the period. 36.39% of the stock is currently owned by institutional investors.

Lifeway Foods Company Profile

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.