Lannett Company, Inc. (NYSE:LCI) Short Interest Down 17.8% in August

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Lannett Company, Inc. (NYSE:LCI) saw a large decrease in short interest in August. As of August 15th, there was short interest totalling 16,909,700 shares, a decrease of 17.8% from the July 15th total of 20,576,700 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 14.0 days. Approximately 60.8% of the company’s stock are short sold.

A number of equities analysts have issued reports on the company. ValuEngine raised Lannett from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating, Lannett presently has an average rating of “Hold” and a consensus price target of $9.38.

Shares of NYSE LCI traded down $0.20 during trading on Tuesday, reaching $6.03. The stock had a trading volume of 2,155,299 shares, compared to its average volume of 1,320,490. Lannett has a one year low of $3.33 and a one year high of $10.45. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.12 and a current ratio of 2.88. The stock has a market cap of $243.39 million, a PE ratio of 1.95 and a beta of 2.41. The firm’s 50 day moving average price is $6.45 and its two-hundred day moving average price is $7.02.

Hedge funds and other institutional investors have recently modified their holdings of the company. Optimum Investment Advisors bought a new stake in shares of Lannett in the 1st quarter valued at approximately $39,000. Glen Harbor Capital Management LLC bought a new stake in shares of Lannett in the 2nd quarter valued at approximately $42,000. Aperio Group LLC bought a new stake in shares of Lannett in the 2nd quarter valued at approximately $49,000. BNP Paribas Arbitrage SA increased its holdings in shares of Lannett by 105.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock valued at $55,000 after acquiring an additional 3,615 shares during the last quarter. Finally, Tyers Asset Management LLC bought a new stake in shares of Lannett in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 82.07% of the company’s stock.

About Lannett

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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