Short Interest in Limoneira (NASDAQ:LMNR) Decreases By 14.4%

Limoneira (NASDAQ:LMNR) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 395,300 shares, a drop of 14.4% from the July 31st total of 462,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 46,400 shares, the days-to-cover ratio is currently 8.5 days.

Limoneira Trading Up 0.8 %

LMNR stock traded up $0.21 during trading on Friday, reaching $25.08. 33,972 shares of the stock were exchanged, compared to its average volume of 46,530. The business has a 50 day moving average price of $21.44 and a 200-day moving average price of $20.24. The firm has a market capitalization of $451.69 million, a price-to-earnings ratio of -192.92, a P/E/G ratio of 7.60 and a beta of 0.48. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. Limoneira has a 1 year low of $13.88 and a 1 year high of $25.89.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.20. The company had revenue of $44.61 million during the quarter, compared to analyst estimates of $54.62 million. Limoneira had a positive return on equity of 0.67% and a negative net margin of 0.92%. On average, research analysts predict that Limoneira will post 0.22 earnings per share for the current year.

Limoneira Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 8th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, July 8th. Limoneira’s payout ratio is -230.77%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of Limoneira by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after acquiring an additional 1,565 shares during the last quarter. Covestor Ltd raised its position in Limoneira by 48.9% in the first quarter. Covestor Ltd now owns 5,764 shares of the company’s stock valued at $113,000 after purchasing an additional 1,893 shares during the period. Bank of New York Mellon Corp lifted its stake in Limoneira by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after purchasing an additional 1,934 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Limoneira by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 35,138 shares of the company’s stock worth $687,000 after buying an additional 2,923 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Limoneira by 2.5% in the second quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock valued at $2,566,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upped their price target on Limoneira from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 7th.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.