Li Bang International Corporation Inc. (NASDAQ:LBGJ) Sees Large Drop in Short Interest

Li Bang International Corporation Inc. (NASDAQ:LBGJ) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 59,426 shares, a decline of 50.2% from the September 15th total of 119,232 shares. Approximately 8.4% of the company’s shares are sold short. Based on an average daily volume of 108,090 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LBGJ shares. Weiss Ratings cut shares of Li Bang International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Wall Street Zen raised shares of Li Bang International to a “sell” rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Li Bang International Trading Up 2.0%

Shares of LBGJ traded up $0.04 during mid-day trading on Wednesday, reaching $1.81. 32,879 shares of the company’s stock traded hands, compared to its average volume of 255,398. The stock’s 50-day moving average is $2.52 and its two-hundred day moving average is $127.71. Li Bang International has a 12 month low of $1.29 and a 12 month high of $25,400.00.

Insider Transactions at Li Bang International

In related news, major shareholder Financial Lp Hrt sold 5,430 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $6.00, for a total transaction of $32,580.00. Following the sale, the insider owned 743 shares in the company, valued at approximately $4,458. This represents a 87.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Funa Li purchased 15,088 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price 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 of the company’s stock, valued at $51,748. The trade was a 11,430.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 93,578 shares of company stock worth $332,057.

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.