The stock of Landec Corporation (NASDAQ:LNDC) hit a new 52-week high and has $33.80 target or 138.00% above today’s $14.20 share price. The 5 months bullish chart indicates low risk for the $388.21M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $33.80 price target is reached, the company will be worth $535.73M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.07% or $0.15 during the last trading session, hitting $14.2. About 83,191 shares traded hands or 29.58% up from the average. Landec Corporation (NASDAQ:LNDC) has risen 33.81% since April 15, 2016 and is uptrending. It has outperformed by 29.19% the S&P500.
Landec Corporation (NASDAQ:LNDC) Ratings Coverage
Out of 4 analysts covering Landec (NASDAQ:LNDC), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Landec has been the topic of 4 analyst reports since November 18, 2015 according to StockzIntelligence Inc. Wunderlich initiated the shares of LNDC in a report on Wednesday, November 18 with “Buy” rating. On Tuesday, June 7 the stock rating was initiated by Maxim Group with “Buy”. Wedbush initiated it with “Neutral” rating and $12 target price in Friday, July 8 report. The firm has “Buy” rating by Sidoti given on Monday, January 25.
According to Zacks Investment Research, “Landec Corporation designs, develops, manufactures and sells temperature-activated and other specialty polymer products for a variety of food products, agricultural products, specialty industrial and medical applications. This proprietary polymer technology is the foundation, and a key differentiating advantage, upon which they have built their business.”
Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.39, from 0.64 in 2016Q1. The ratio increased, as 6 funds sold all Landec Corporation shares owned while 28 reduced positions. 11 funds bought stakes while 24 increased positions. They now own 25.18 million shares or 1.31% more from 24.85 million shares in 2016Q1.
Deutsche Bancorp Ag has 0% invested in the company for 163,909 shares. Geode Mgmt Limited Liability Co last reported 191,804 shares in the company. John G Ullman & Assoc has 0.85% invested in the company for 384,825 shares. Nationwide Fund Advsr has 0% invested in the company for 26,365 shares. First Interstate Bancorp accumulated 12,590 shares or 0.03% of the stock. Perritt Capital Mgmt accumulated 0.85% or 298,800 shares. Assetmark Incorporated, a California-based fund reported 6 shares. Blackrock Limited Liability Company holds 12,562 shares or 0% of its portfolio. Goldman Sachs Group Incorporated last reported 0% of its portfolio in the stock. The Texas-based Dimensional Fund Advsrs Ltd Partnership has invested 0.01% in Landec Corporation (NASDAQ:LNDC). Wynnefield last reported 10.45% of its portfolio in the stock. Tower Rech Capital Ltd (Trc) holds 0% or 946 shares in its portfolio. Prudential Financial, a New Jersey-based fund reported 27,094 shares. North Star last reported 0.34% of its portfolio in the stock. Legal And General Public holds 0% or 4,107 shares in its portfolio.
Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 3 insider sales for $1.21 million net activity. Another trade for 34,484 shares valued at $429,878 was made by STEELE GARY T on Thursday, August 11. Midyett Ronald Lane sold $84,146 worth of stock. SKINNER GREGORY S sold $699,496 worth of stock.
Another recent and important Landec Corporation (NASDAQ:LNDC) news was published by Marketwatch.com which published an article titled: “Landec started at neutral with $12 stock price target at Wedbush Securities” on December 22, 2009.
LNDC Company Profile
Landec Corporation, incorporated on August 22, 2007, designs, develops, makes and sells a range of health and wellness products for food and biomaterials markets. The Firm licenses technology applications to partners. The Firm operates through three divisions: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry. In addition, the Packaged Fresh Vegetables segment sells BreatheWay packaging to partners for fruit and vegetable products. The Food Export segment is engaged in the purchase and sale of whole commodity fruit and vegetable products primarily to Asia. The Biomaterials segment sells products utilizing hyaluronan, a polysaccharide that is distributed in the extracellular matrix of connective tissues in both animals and humans, and non-hyaluronan (HA) products for medical use primarily in the Ophthalmic, Orthopedic and other markets. The Firm has approximately two polymer technology platforms: Intelimer polymers and HA biopolymers. The Firm sells specialty packaged branded Eat Smart and GreenLine and private label fresh-cut vegetables and whole produce to retailers, club stores and foodservice operators primarily in the United States, Canada and Asia through its Apio, Inc. (Apio) subsidiary, and sells HA and non-HA biomaterials through its Lifecore Biomedical, Inc. (Lifecore) subsidiary.
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