Lemonade (NYSE:LMND) Stock Price Up 7.2%

Lemonade, Inc. (NYSE:LMND) shares shot up 7.2% during mid-day trading on Tuesday . The stock traded as high as $17.43 and last traded at $17.33. 417,686 shares were traded during trading, a decline of 76% from the average session volume of 1,770,411 shares. The stock had previously closed at $16.16.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their target price on Lemonade from $16.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, March 4th. Piper Sandler restated a “neutral” rating and issued a $17.00 price target on shares of Lemonade in a report on Thursday, February 29th. Morgan Stanley boosted their target price on shares of Lemonade from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Finally, TD Cowen began coverage on shares of Lemonade in a report on Wednesday, January 10th. They set a “market perform” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.11.

Lemonade Stock Performance

The firm’s 50-day moving average price is $16.82 and its 200 day moving average price is $16.14.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.61) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.18. Lemonade had a negative return on equity of 31.29% and a negative net margin of 55.12%. The firm had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $111.71 million. During the same period last year, the business posted ($0.93) earnings per share. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. On average, research analysts forecast that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Activity

In other news, CFO Timothy E. Bixby purchased 10,000 shares of Lemonade stock in a transaction dated Wednesday, March 6th. The stock was bought at an average price of $16.54 per share, with a total value of $165,400.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at approximately $165,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

Institutional Trading of Lemonade

Several large investors have recently added to or reduced their stakes in LMND. Tower Research Capital LLC TRC lifted its stake in shares of Lemonade by 236.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,246 shares of the company’s stock worth $85,000 after acquiring an additional 3,687 shares during the period. Halter Ferguson Financial Inc. purchased a new stake in shares of Lemonade in the 4th quarter valued at approximately $6,429,000. Quest Partners LLC purchased a new position in Lemonade during the fourth quarter valued at approximately $151,000. Trexquant Investment LP purchased a new position in Lemonade in the fourth quarter valued at about $272,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Lemonade during the fourth quarter valued at approximately $439,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.