Lemonade (NYSE:LMND) Sets New 52-Week Low – What’s Next?

Lemonade, Inc. (NYSE:LMND) shares hit a new 52-week low on Wednesday. The stock traded as low as $42.70 and last traded at $43.3210, with a volume of 232,690 shares changing hands. The stock had previously closed at $44.71.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lemonade in a research report on Friday, July 17th. Wall Street Zen raised Lemonade from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price target for the company in a research report on Thursday, July 30th. Morgan Stanley cut their price objective on Lemonade from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Finally, Piper Sandler cut their target price on shares of Lemonade from $75.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.50.

Lemonade Price Performance

The company’s 50-day moving average is $49.41 and its two-hundred day moving average is $56.34. The company has a market cap of $3.56 billion, a P/E ratio of -25.11 and a beta of 1.87.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.56). The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%. The company’s quarterly revenue was up 79.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.60) earnings per share. Equities research analysts anticipate that Lemonade, Inc. will post -1.83 EPS for the current year.

Insider Transactions at Lemonade

In other news, insider Maya Prosor sold 1,040 shares of Lemonade stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $54.63, for a total transaction of $56,815.20. Following the transaction, the insider owned 186,533 shares in the company, valued at $10,190,297.79. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Peters sold 11,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the transaction, the insider directly owned 76,942 shares in the company, valued at $4,043,302.10. This trade represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 15,148 shares of company stock worth $804,250. 12.20% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC purchased a new stake in shares of Lemonade during the 2nd quarter valued at about $30,000. State of Wyoming purchased a new position in Lemonade in the 1st quarter worth about $42,000. Integrated Wealth Concepts LLC purchased a new position in Lemonade during the 2nd quarter worth $128,000. Triumph Capital Management raised its holdings in shares of Lemonade by 28.0% in the third quarter. Triumph Capital Management now owns 3,118 shares of the company’s stock valued at $141,000 after acquiring an additional 682 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Lemonade in the 2nd quarter valued at about $156,000. 80.30% of the stock is currently owned by institutional investors.

About Lemonade

Lemonade, Inc is a technology-driven insurance company that offers insurance products through mobile applications and online platforms. Its business uses artificial intelligence, automation and behavioral economics to simplify policy purchases, claims processing and customer service.

The company provides renters, homeowners, car, pet and term life insurance, with product availability varying by location. Lemonade’s digital platform is designed to allow customers to obtain quotes, manage policies and submit claims without relying primarily on traditional insurance agents.

Founded in 2015 by Daniel Schreiber and Shai Wininger, Lemonade initially focused on renters insurance before expanding into additional insurance categories.