Lakeland Industries (NASDAQ:LAKE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Lakeland Industries, Inc. (NASDAQ:LAKE) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.95 and traded as high as $12.70. Lakeland Industries shares last traded at $11.87, with a volume of 93,777 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on LAKE. Weiss Ratings upgraded Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. DA Davidson raised their price objective on Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded Lakeland Industries from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Maxim Group set a $16.00 target price on Lakeland Industries in a research report on Monday, April 20th. Finally, Lake Street Capital reduced their target price on Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Lakeland Industries Price Performance

The company has a market cap of $118.74 million, a P/E ratio of -5.65 and a beta of 1.43. The company’s 50-day moving average price is $10.94 and its two-hundred day moving average price is $9.96. The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.18. The business had revenue of $47.42 million for the quarter, compared to analysts’ expectations of $47.36 million. Lakeland Industries had a negative net margin of 10.87% and a negative return on equity of 6.64%. As a group, sell-side analysts expect that Lakeland Industries, Inc. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 839 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Lakeland Industries during the second quarter worth $38,000. Bank of America Corp DE boosted its holdings in Lakeland Industries by 189.9% in the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after purchasing an additional 2,736 shares during the period. JPMorgan Chase & Co. bought a new stake in Lakeland Industries during the second quarter valued at $59,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Lakeland Industries during the second quarter valued at $68,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.