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

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com assumed coverage on Lifeway Foods in a research report on Thursday. They issued a “hold” rating for the company. Noble Financial lowered shares of Lifeway Foods from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th.

Insider Buying and Selling at Lifeway Foods

In other Lifeway Foods news, major shareholder Ludmila Smolyansky sold 15,000 shares of the company’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 owns 1,110,133 shares in the company, valued at approximately $20,193,319.27. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 18.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Lifeway Foods

A number of institutional investors have recently made changes to their positions in LWAY. Geode Capital Management LLC raised its holdings in shares of Lifeway Foods by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 115,971 shares of the company’s stock worth $3,006,000 after acquiring an additional 2,018 shares during the period. Barclays PLC lifted its stake in Lifeway Foods by 40.5% during the third quarter. Barclays PLC now owns 6,420 shares of the company’s stock worth $167,000 after purchasing an additional 1,849 shares in the last quarter. State Street Corp boosted its holdings in Lifeway Foods by 28.9% during the 3rd quarter. State Street Corp now owns 53,683 shares of the company’s stock valued at $1,391,000 after acquiring an additional 12,020 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Lifeway Foods in the third quarter valued at approximately $679,000. Finally, Harvest Management LLC acquired a new position in shares of Lifeway Foods in the third quarter worth $518,000. 36.39% of the stock is owned by institutional investors and hedge funds.

Lifeway Foods Price Performance

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

About Lifeway Foods

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.