Laird Superfood, Inc. (NYSEAMERICAN:LSF) Short Interest Update

Laird Superfood, Inc. (NYSEAMERICAN:LSF) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 148,600 shares, a drop of 5.3% from the July 31st total of 156,900 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 183,100 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in Laird Superfood by 86.2% during the second quarter. Renaissance Technologies LLC now owns 327,600 shares of the company’s stock worth $1,841,000 after buying an additional 151,679 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Laird Superfood during the 2nd quarter valued at about $155,000. Virtu Financial LLC bought a new position in shares of Laird Superfood in the 1st quarter valued at approximately $61,000. Finally, XTX Topco Ltd bought a new stake in Laird Superfood during the second quarter worth approximately $63,000. Institutional investors own 8.56% of the company’s stock.

Laird Superfood Stock Down 3.1 %

Shares of NYSEAMERICAN LSF opened at $3.73 on Wednesday. Laird Superfood has a one year low of $0.71 and a one year high of $6.46. The company has a 50-day moving average price of $1.07. The stock has a market capitalization of $38.34 million, a P/E ratio of -4.91 and a beta of 2.29.

Laird Superfood (NYSEAMERICAN:LSF) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.07. The business had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $9.70 million. Laird Superfood had a negative return on equity of 31.42% and a negative net margin of 9.84%. On average, equities research analysts forecast that Laird Superfood will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on LSF. Canaccord Genuity Group boosted their target price on shares of Laird Superfood from $2.50 to $3.50 and gave the stock a “buy” rating in a report on Thursday, May 9th. Roth Capital raised Laird Superfood from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. Roth Mkm reissued a “buy” rating and set a $6.00 price objective (up from $4.50) on shares of Laird Superfood in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group upgraded Laird Superfood to a “strong-buy” rating in a report on Thursday, May 9th.

Laird Superfood Company Profile

Laird Superfood, Inc manufactures and markets plant-based natural and functional food in the United States. The company provides powdered and liquid coffee creamers, and hydration and beverage enhancing supplements; hydrate coconut water products; performance mushroom supplements; functional, organic roasted, and instant coffee, tea, hot chocolate products; harvest snacks; and other food items.