Laird Superfood (NYSEAMERICAN:LSF) Trading Down 6.2% – Here’s What Happened

Laird Superfood, Inc. (NYSEAMERICAN:LSF) was down 6.2% on Thursday . The company traded as low as $4.35 and last traded at $4.36. 19,251 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 79,236 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

Several research firms recently issued reports on LSF. Zacks Research lowered Laird Superfood from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 26th. Maxim Group lowered their price objective on 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Laird Superfood Stock Performance

The stock’s 50-day simple moving average is $3.85 and its 200-day simple moving average is $3.08. The firm has a market capitalization of $50.93 million, a PE ratio of -25.72 and a beta of 2.66.

Laird Superfood (NYSEAMERICAN:LSF) last posted its earnings results on Thursday, May 14th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.24. The firm had revenue of $13.94 million for the quarter, compared to the consensus estimate of $14.51 million. Laird Superfood had a negative return on equity of 35.26% and a negative net margin of 3.41%. As a group, analysts predict that Laird Superfood, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Grant J. Lamontagne bought 8,826 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $3.23 per share, with a total value of $28,507.98. Following the completion of the purchase, the director owned 168,334 shares in the company, valued at approximately $543,718.82. The trade was a 5.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory B. Graves purchased 15,000 shares of Laird Superfood stock in a transaction dated Wednesday, June 10th. The shares were bought at an average price of $3.45 per share, with a total value of $51,750.00. Following the completion of the acquisition, the director directly owned 75,089 shares of the company’s stock, valued at approximately $259,057.05. This represents a 24.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 105,736 shares of company stock worth $350,104 in the last three months. 77.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Laird Superfood

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised 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 worth $282,000 after buying an additional 19,806 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Laird Superfood by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 85,300 shares of the company’s stock valued at $538,000 after acquiring an additional 2,483 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Laird Superfood in the second quarter worth approximately $102,000. Mink Brook Asset Management LLC bought a new stake in shares of Laird Superfood in the third quarter worth approximately $478,000. Finally, Susquehanna International Group LLP grew its stake in shares of Laird Superfood by 29.1% in the third quarter. Susquehanna International Group LLP now owns 47,546 shares of the company’s stock worth $265,000 after acquiring an additional 10,708 shares during the period. 8.56% of the stock is currently owned by hedge funds and other institutional investors.

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.