Lexaria Bioscience Corp. (NASDAQ:LEXX) Short Interest Update

Lexaria Bioscience Corp. (NASDAQ:LEXX) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 27,867 shares, a decrease of 88.6% from the July 30th total of 243,976 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 38,348 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.50.

Institutional Trading of Lexaria Bioscience

A hedge fund recently raised its position in Lexaria Bioscience stock. Geode Capital Management LLC raised its stake in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) by 25.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 219,718 shares of the company’s stock after purchasing an additional 44,939 shares during the period. Geode Capital Management LLC owned 0.88% of Lexaria Bioscience worth $136,000 as of its most recent SEC filing. Institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Stock Performance

Shares of Lexaria Bioscience stock traded up $0.64 during trading on Thursday, hitting $11.68. 505,647 shares of the stock traded hands, compared to its average volume of 16,609. The stock has a market cap of $19.31 million, a P/E ratio of -2.29 and a beta of 0.38. The company has a fifty day moving average price of $8.34 and a two-hundred day moving average price of $10.06. Lexaria Bioscience has a twelve month low of $4.21 and a twelve month high of $23.25.

Lexaria Bioscience (NASDAQ:LEXX) last issued its quarterly earnings data on Monday, July 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). On average, equities research analysts expect that Lexaria Bioscience will post -4.05 EPS for the current fiscal year.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.