Lexaria Bioscience Corp (NASDAQ:LEXX): Buy, Sell Or Hold At $2.30?

In last trading session, Lexaria Bioscience Corp (NASDAQ:LEXX) saw 0.79 million shares changing hands with its beta currently measuring 0.64. Company’s recent per share price level of $2.30 trading at $0.4 or 21.05% at ring of the bell on the day assigns it a market valuation of $24.01M. That closing price of LEXX’s stock is at a discount of -56.52% from its 52-week high price of $3.60 and is indicating a premium of 71.74% from its 52-week low price of $0.65. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.2 million shares which gives us an average trading volume of 128.22K if we extend that period to 3-months.

Lexaria Bioscience Corp (NASDAQ:LEXX) trade information

Upright in the green during last session for gaining 21.05%, in the last five days LEXX remained trading in the green while hitting it’s week-highest on Friday, 02/09/24 when the stock touched $2.30 price level, adding 8.73% to its value on the day. Lexaria Bioscience Corp’s shares saw a change of 84.00% in year-to-date performance and have moved 32.18% in past 5-day. Lexaria Bioscience Corp (NASDAQ:LEXX) showed a performance of 59.72% in past 30-days. Number of shares sold short was 0.66 million shares which calculate 8.25 days to cover the short interests.

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Lexaria Bioscience Corp (LEXX) estimates and forecasts

Statistics highlight that Lexaria Bioscience Corp is scoring comparatively higher than the scores of other players of the relevant industry. The company added 125.49% of value to its shares in past 6 months, showing an annual growth rate of 40.59% while that of industry is 15.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 18.43% during past 5 years.

LEXX Dividends

Lexaria Bioscience Corp is more likely to be releasing its next quarterly report in March and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Lexaria Bioscience Corp (NASDAQ:LEXX)’s Major holders

Insiders are in possession of 14.73% of company’s total shares while institution are holding 19.43 percent of that, with stock having share float percentage of 22.79%. Investors also watch the number of corporate investors in a company very closely, which is 19.43% institutions for Lexaria Bioscience Corp that are currently holding shares of the company. Invenomic Capital Management, LP is the top institutional holder at LEXX for having 0.77 million shares of worth $0.56 million. And as of Jun 29, 2023, it was holding 0.95% of the company’s outstanding shares.

The second largest institutional holder is Geode Capital Management, LLC, which was holding about 48837.0 shares on Jun 29, 2023. The number of shares represents firm’s hold over 0.06% of outstanding shares, having a total worth of $35665.0.

On the other hand, Northern Lights Fd Tr II-Invenomic Fd and Fidelity Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 0.66 million shares of worth $0.55 million or 0.81% of the total outstanding shares. The later fund manager was in possession of 39100.0 shares on May 30, 2023, making its stake of worth around $29043.0 in the company or a holder of 0.05% of company’s stock.

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