Lannett (NYSE:LCI) Stock Price Breaks Below 50-Day Moving Average of $0.59
Lannett Company, Inc. (NYSE:LCI – Get Rating) crossed below its 50-day moving average during Thursday’s session. The stock has a 50-day moving average of $0.59 and is trading as low as $0.56. Lannett shares last traded at $0.58, with volume at 88,253 shares.
Changes to analyst ratings
Separately, StockNews.com began covering Lannett in a report on Friday. They issued a “holding” rating for the company.
Lannett Price Performance
The stock has a market capitalization of $24.87 million, a price-earnings ratio of -0.07 and a beta of 0.99. The stock has a fifty-day moving average of $0.59 and a 200-day moving average of $0.72.
Institutional investors weigh in on Lannett
A number of institutional investors and hedge funds have recently changed their holdings in the company. Telemus Capital LLC increased its stake in Lannett shares by 0.4% during the first quarter. Telemus Capital LLC now owns 7,379,431 shares of the company worth $5,814,000 after purchasing an additional 31,010 shares during the period. Renaissance Technologies LLC increased its holdings of Lannett shares by 12.0% during the first quarter. Renaissance Technologies LLC now owns 2,303,103 shares of the company worth $1,815,000 after purchasing an additional 247,566 shares during the period. Staley Capital Advisers Inc. increased its holdings of Lannett shares by 10.7% during the second quarter. Staley Capital Advisers Inc. now owns 515,145 shares of the company worth $299,000 after purchasing an additional 50,000 shares during the period. Assenagon Asset Management SA increased its position in Lannett by 83.4% during the second quarter. Assenagon Asset Management SA now owns 337,490 shares of the company valued at $196,000 after acquiring an additional 153,445 shares last quarter. Finally, Invesco Ltd. increased its position in Lannett by 152.7% during the first quarter. Invesco Ltd. now owns 334,876 shares of the company valued at $264,000 after acquiring an additional 202,360 shares last quarter. Institutional investors and hedge funds hold 60.51% of the company’s shares.
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Lannett Company, Inc develops, manufactures, packages, markets and distributes generic versions of brand name pharmaceuticals in the United States. The company offers solid oral and sustained-release, topical, liquid, nasal and oral solution dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, nasal, patch, foam, buccal, sublingual solutions, suspensions , soft gels , injectable and oral doses.
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