WealthTrust Axiom LLC Buys 5,300 Shares of LRAD Corp (NASDAQ:LRAD)

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WealthTrust Axiom LLC lifted its stake in shares of LRAD Corp (NASDAQ:LRAD) by 53.0% in the second quarter, HoldingsChannel.com reports. The fund owned 15,300 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,300 shares during the quarter. WealthTrust Axiom LLC’s holdings in LRAD were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of LRAD by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 128,241 shares of the scientific and technical instruments company’s stock worth $323,000 after acquiring an additional 13,762 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of LRAD during the 2nd quarter worth $112,000. Wells Fargo & Company MN lifted its stake in LRAD by 306.9% in the second quarter. Wells Fargo & Company MN now owns 28,485 shares of the scientific and technical instruments company’s stock worth $94,000 after purchasing an additional 21,485 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in LRAD in the first quarter worth $35,000. 48.07% of the stock is owned by institutional investors.

In other LRAD news, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $4.02, for a total value of $402,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company’s stock.

Several analysts have weighed in on the stock. CIBC assumed coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price target for the company. UBS Group assumed coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price target for the company. Finally, Oppenheimer assumed coverage on shares of LRAD in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $5.00 price target for the company.

LRAD stock traded down $0.03 during mid-day trading on Tuesday, hitting $3.46. The company’s stock had a trading volume of 1,512 shares, compared to its average volume of 129,053. The stock has a market cap of $115.04 million, a price-to-earnings ratio of -57.66 and a beta of 0.62. The business has a 50 day moving average price of $3.88 and a 200-day moving average price of $3.22. LRAD Corp has a 12 month low of $2.08 and a 12 month high of $4.24.

LRAD (NASDAQ:LRAD) last posted its quarterly earnings results on Monday, August 12th. The scientific and technical instruments company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $8.86 million during the quarter, compared to the consensus estimate of $11.10 million. LRAD had a return on equity of 1.25% and a net margin of 1.29%. Equities analysts forecast that LRAD Corp will post 0.06 earnings per share for the current year.

About LRAD

LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.

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Institutional Ownership by Quarter for LRAD (NASDAQ:LRAD)

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