Laird Superfood (NYSEAMERICAN:LSF) Downgraded by Zacks Research to Strong Sell

Laird Superfood (NYSEAMERICAN:LSF) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Maxim Group dropped their target price on shares of Laird Superfood from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Laird Superfood Trading Down 1.7%

Shares of NYSEAMERICAN:LSF opened at $3.46 on Tuesday. The firm has a 50 day moving average of $2.80 and a 200-day moving average of $2.71. The stock has a market capitalization of $38.06 million, a PE ratio of -19.22 and a beta of 2.73. Laird Superfood has a 12 month low of $1.96 and a 12 month high of $7.80.

Laird Superfood (NYSEAMERICAN:LSF) last issued its earnings results on Thursday, May 14th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.24. The company had revenue of $13.94 million during the quarter, compared to analysts’ expectations of $14.51 million. Laird Superfood had a negative net margin of 3.41% and a negative return on equity of 35.26%. On average, research analysts predict that Laird Superfood will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Laird Superfood

A number of institutional investors have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC increased its position in Laird Superfood by 159.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 222,432 shares of the company’s stock valued at $494,000 after acquiring an additional 136,826 shares during the period. Jane Street Group LLC acquired a new position in Laird Superfood in the 4th quarter valued at approximately $73,000. Virtu Financial LLC acquired a new position in Laird Superfood in the 4th quarter valued at approximately $57,000. Steadtrust LLC acquired a new position in Laird Superfood in the 4th quarter valued at approximately $44,000. Finally, Acadian Asset Management LLC increased its position in Laird Superfood by 75.3% in the 1st quarter. Acadian Asset Management LLC now owns 46,104 shares of the company’s stock valued at $282,000 after acquiring an additional 19,806 shares during the period. 8.56% of the stock is currently owned by institutional investors and hedge funds.

About Laird Superfood

Laird Superfood, Inc (NYSE American: LSF) is a consumer wellness company specializing in plant-based superfood and functional beverage products. Founded in 2015 by big-wave surfer and entrepreneur Laird Hamilton, the company develops creamers, coffees, hydration mixes and culinary superfood blends designed to deliver energy, focus and nutritional support. Laird Superfood’s offerings leverage premium ingredients such as coconut milk, aquamin sea minerals, functional mushrooms and adaptogens to address growing consumer demand for clean-label, nutrient-rich alternatives.

The company’s core product lines include coconut-based coffee creamers, plant-based creamers, instant coffee blends combined with superfood ingredients, hydration mixes and culinary seasonings.