Lifetime Brands, Inc. (NASDAQ:LCUT) Sees Large Drop in Short Interest

Lifetime Brands, Inc. (NASDAQ:LCUT) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 119,333 shares, a drop of 16.6% from the January 29th total of 143,041 shares. Based on an average daily volume of 16,817 shares, the days-to-cover ratio is presently 7.1 days. Approximately 0.9% of the company’s shares are short sold. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 16,817 shares, the days-to-cover ratio is presently 7.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LCUT. Canaccord Genuity Group reiterated a “hold” rating and issued a $3.50 price target (down from $4.00) on shares of Lifetime Brands in a report on Monday, January 26th. Roth Mkm initiated coverage on Lifetime Brands in a research report on Friday, February 13th. They set a “buy” rating and a $5.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifetime Brands in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Lifetime Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.83.

Lifetime Brands Stock Performance

Shares of LCUT stock opened at $3.25 on Tuesday. Lifetime Brands has a 12-month low of $2.89 and a 12-month high of $5.78. The business’s fifty day simple moving average is $3.66 and its 200-day simple moving average is $3.72. The company has a current ratio of 2.71, a quick ratio of 1.11 and a debt-to-equity ratio of 1.03. The company has a market cap of $73.65 million, a PE ratio of -1.96, a PEG ratio of 0.45 and a beta of 1.29.

Institutional Investors Weigh In On Lifetime Brands

Large investors have recently made changes to their positions in the stock. Royce & Associates LP purchased a new position in shares of Lifetime Brands during the 3rd quarter valued at approximately $41,000. Qube Research & Technologies Ltd acquired a new stake in Lifetime Brands during the second quarter valued at $88,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Lifetime Brands in the third quarter worth about $118,000. Jane Street Group LLC raised its position in shares of Lifetime Brands by 388.4% in the fourth quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock worth $205,000 after acquiring an additional 41,191 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Lifetime Brands during the 2nd quarter worth about $212,000. 40.62% of the stock is owned by hedge funds and other institutional investors.

Lifetime Brands Company Profile

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.