Lakeland Industries (NASDAQ:LAKE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Lakeland Industries, Inc. (NASDAQ:LAKE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.80 and traded as high as $11.14. Lakeland Industries shares last traded at $10.84, with a volume of 315,061 shares.

Wall Street Analyst Weigh In

LAKE has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Lakeland Industries in a report on Thursday, January 22nd. Zacks Research upgraded shares of Lakeland Industries from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Lake Street Capital lowered their target price on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a report on Friday, April 17th. Maxim Group set a $16.00 target price on shares of Lakeland Industries in a report on Monday, April 20th. Finally, DA Davidson upgraded shares of Lakeland Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $10.00 to $14.00 in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lakeland Industries currently has an average rating of “Hold” and an average target price of $15.20.

Lakeland Industries Stock Performance

The firm’s fifty day moving average price is $9.07 and its 200-day moving average price is $10.80. The company has a current ratio of 3.53, a quick ratio of 1.36 and a debt-to-equity ratio of 0.24. The firm has a market cap of $104.70 million, a price-to-earnings ratio of -4.12 and a beta of 1.45.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LAKE. Cubist Systematic Strategies LLC acquired a new position in shares of Lakeland Industries in the 1st quarter valued at $164,000. Goldman Sachs Group Inc. boosted its stake in Lakeland Industries by 42.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,435 shares of the medical instruments supplier’s stock worth $902,000 after purchasing an additional 13,219 shares during the period. Jane Street Group LLC boosted its stake in Lakeland Industries by 107.7% during the 1st quarter. Jane Street Group LLC now owns 40,180 shares of the medical instruments supplier’s stock worth $816,000 after purchasing an additional 20,832 shares during the period. Geode Capital Management LLC boosted its stake in Lakeland Industries by 115.9% during the 2nd quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock worth $2,964,000 after purchasing an additional 116,901 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in Lakeland Industries during the 2nd quarter worth $59,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.