LGL Group (NYSEAMERICAN:LGL) Shares Break Above Fifty Day Moving Average – Here’s Why

LGL Group, Inc. (The) (NYSEAMERICAN:LGL) shares passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $6.84 and traded as high as $6.90. LGL Group shares last traded at $6.90, with a volume of 7,854 shares traded.

LGL Group Trading Up 4.5%

The stock has a market capitalization of $87.01 million, a price-to-earnings ratio of -172.50 and a beta of 0.51. The company has a fifty day moving average of $6.84 and a two-hundred day moving average of $7.03.

LGL Group (NYSEAMERICAN:LGL) last announced its quarterly earnings results on Friday, August 14th. The industrial products company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). LGL Group had a negative net margin of 5.04% and a negative return on equity of 0.51%. The company had revenue of $0.75 million for the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts predict that LGL Group, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LGL. Bard Associates Inc. bought a new position in LGL Group in the 2nd quarter worth $3,378,000. Renaissance Technologies LLC boosted its holdings in LGL Group by 3.6% during the first quarter. Renaissance Technologies LLC now owns 166,594 shares of the industrial products company’s stock valued at $1,158,000 after acquiring an additional 5,773 shares during the period. Cable Car Capital LP acquired a new stake in shares of LGL Group in the second quarter valued at about $346,000. BlackRock Inc. acquired a new stake in shares of LGL Group in the second quarter valued at about $93,000. Finally, Gamco Investors INC. ET AL grew its position in shares of LGL Group by 2.8% in the first quarter. Gamco Investors INC. ET AL now owns 670,781 shares of the industrial products company’s stock valued at $4,662,000 after purchasing an additional 18,305 shares during the last quarter. 30.28% of the stock is currently owned by institutional investors and hedge funds.

About LGL Group

The LGL Group, Inc. is an electronic components company that designs and manufactures precision frequency-control and timing products. Its product portfolio includes quartz crystals, crystal oscillators, temperature-compensated and oven-controlled crystal oscillators, voltage-controlled oscillators, filters, and related frequency-control modules. The company primarily serves customers that require accurate timing, synchronization, and signal-processing capabilities in applications such as telecommunications, aerospace and defense, industrial equipment, test and measurement, and other electronic systems.