Limoneira (NASDAQ:LMNR) Shares Cross Above 200 Day Moving Average – What’s Next?

Limoneira Co (NASDAQ:LMNR)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.39 and traded as high as $13.95. Limoneira shares last traded at $13.76, with a volume of 47,082 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a research report on Wednesday, June 24th. Lake Street Capital dropped their target price on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Finally, HC Wainwright downgraded shares of Limoneira to a “buy” rating in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.00.

Limoneira Stock Down 1.1%

The company has a fifty day moving average of $13.20 and a 200 day moving average of $13.39. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The company has a market cap of $250.74 million, a P/E ratio of -6.07 and a beta of 0.30.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Tuesday, June 9th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.08). Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%.The business had revenue of $23.93 million during the quarter, compared to the consensus estimate of $21.42 million. On average, research analysts anticipate that Limoneira Co will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Limoneira

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets grew its stake in Limoneira by 64.8% in the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after acquiring an additional 668 shares during the period. Trust Co. of Vermont bought a new stake in Limoneira during the 2nd quarter valued at $33,000. Leonteq Securities AG raised its holdings in Limoneira by 88.8% during the first quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock worth $45,000 after buying an additional 1,593 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Limoneira by 45.0% in the fourth quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock valued at $123,000 after buying an additional 3,029 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Limoneira during the fourth quarter valued at about $150,000. 64.35% of the stock is owned by institutional investors.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.