Li Bang International Corporation Inc. (NASDAQ:LBGJ) Sees Significant Drop in Short Interest

Li Bang International Corporation Inc. (NASDAQ:LBGJ) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 58,428 shares, a drop of 49.0% from the August 15th total of 114,481 shares. Based on an average daily volume of 330,918 shares, the short-interest ratio is presently 0.2 days. Approximately 584.3% of the company’s shares are sold short.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 5,430 shares of Li Bang International stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $6.00, for a total transaction of $32,580.00. Following the sale, the insider owned 743 shares of the company’s stock, valued at approximately $4,458. The trade was a 87.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Funa Li purchased 15,088 shares of Li Bang International stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $3.40 per share, for a total transaction of $51,299.20. Following the transaction, the director directly owned 15,220 shares of the company’s stock, valued at $51,748. This trade represents a 11,430.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 93,578 shares of company stock valued at $332,057.

Analysts Set New Price Targets

Several research firms recently weighed in on LBGJ. Wall Street Zen upgraded Li Bang International to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded Li Bang International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Li Bang International presently has a consensus rating of “Sell”.

Li Bang International Stock Performance

Shares of LBGJ stock traded down $0.05 during trading hours on Tuesday, hitting $2.09. 81,770 shares of the company’s stock traded hands, compared to its average volume of 261,398. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.15 and a quick ratio of 1.07. The stock’s fifty day simple moving average is $60.46 and its two-hundred day simple moving average is $605.86. Li Bang International has a 12-month low of $1.91 and a 12-month high of $30,900.00.

Li Bang International Company Profile

Li Bang International Corporation Inc specializes in the research, development, production and sale of stainless steel commercial kitchen equipment under its own `Li Bang` brand principally in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Li Bang International Corporation Inc is based in Jiangyin, China.