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 significant decrease in short interest in August. As of August 31st, there was short interest totaling 58,428 shares, a decrease of 49.0% from the August 15th total of 114,481 shares. Approximately 584.3% of the company’s stock are sold short. Based on an average daily trading volume, of 330,918 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LBGJ shares. Weiss Ratings raised Li Bang International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Wall Street Zen raised Li Bang International to a “sell” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 5,430 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $6.00, for a total transaction of $32,580.00. Following the completion of the sale, the insider owned 743 shares of the company’s stock, valued at $4,458. This trade represents a 87.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Feng Huang purchased 73,147 shares of Li Bang International stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $3.40 per share, with a total value of $248,699.80. Following the transaction, the chief executive officer directly owned 73,788 shares of the company’s stock, valued at $250,879.20. This represents a 11,411.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 93,578 shares of company stock worth $332,057 over the last 90 days.

Li Bang International Trading Down 2.3%

Shares of LBGJ stock traded down $0.05 on Tuesday, reaching $2.09. The stock had a trading volume of 81,770 shares, compared to its average volume of 261,398. Li Bang International has a 1 year low of $1.91 and a 1 year high of $30,900.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.15. The company has a 50 day simple moving average of $60.46 and a 200 day simple moving average of $605.86.

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.