Short Interest in Lifeway Foods, Inc. (NASDAQ:LWAY) Drops By 23.6%

Lifeway Foods, Inc. (NASDAQ:LWAY) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 136,300 shares, a decrease of 23.6% from the October 15th total of 178,500 shares. Based on an average trading volume of 160,200 shares, the short-interest ratio is currently 0.9 days. Currently, 2.9% of the company’s stock are sold short.

Analysts Set New Price Targets

LWAY has been the topic of a number of analyst reports. Noble Financial downgraded shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th. StockNews.com started coverage on shares of Lifeway Foods in a report on Thursday. They issued a “hold” rating on the stock.

Lifeway Foods Price Performance

Lifeway Foods stock traded up $1.17 during midday trading on Friday, reaching $23.56. The company’s stock had a trading volume of 291,297 shares, compared to its average volume of 95,258. Lifeway Foods has a 52-week low of $9.93 and a 52-week high of $28.61. The stock has a market capitalization of $348.45 million, a P/E ratio of 27.40 and a beta of 1.05. The stock’s 50-day simple moving average is $24.88 and its 200-day simple moving average is $18.90.

Insiders Place Their Bets

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $18.19, for a total value of $272,850.00. Following the completion of the transaction, the insider now directly owns 1,110,133 shares in the company, valued at approximately $20,193,319.27. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 18.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lifeway Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd purchased a new position in Lifeway Foods in the 3rd quarter worth $50,000. Rhumbline Advisers raised its stake in shares of Lifeway Foods by 2,334.0% in the second quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after purchasing an additional 4,668 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Lifeway Foods by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 2,778 shares of the company’s stock worth $72,000 after purchasing an additional 1,155 shares during the period. Quest Partners LLC acquired a new stake in shares of Lifeway Foods during the second quarter worth about $82,000. Finally, Barclays PLC boosted its position in Lifeway Foods by 40.5% in the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock valued at $167,000 after buying an additional 1,849 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Lifeway Foods Company Profile

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.