Li Bang International (NASDAQ:LBGJ) Shares Climb 20.3% – Still a Buy?

Li Bang International Corporation Inc. (NASDAQ:LBGJ) shares shot up 20.3% on Wednesday. The stock traded as high as $2.1672 and last traded at $1.84. Approximately 492,538 shares changed hands during trading, an increase of 117% from the average daily volume of 227,091 shares. The stock had previously closed at $1.53.

Wall Street Analysts Forecast Growth

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

Li Bang International Trading Up 20.3%

The firm has a fifty day simple moving average of $2.01 and a two-hundred day simple moving average of $2,542.61.

Insider Buying and Selling at Li Bang International

In other news, Director Funa Li purchased 15,088 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $3.40 per share, with a total value of $51,299.20. Following the transaction, the director directly owned 15,220 shares of the company’s stock, valued at approximately $51,748. This represents a 11,430.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Feng Huang purchased 73,147 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $3.40 per share, with a total value of $248,699.80. Following the purchase, the chief executive officer directly owned 73,788 shares in the company, valued at $250,879.20. This trade represents a 11,411.39% increase in their position. The disclosure for this purchase is available in the SEC filing.

Li Bang International Company Profile

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.