Li Bang International Shares Set to Reverse Split on Monday, August 3rd (NASDAQ:LBGJ)

Shares of Li Bang International Corporation Inc. (NASDAQ:LBGJ) are set to reverse split on the morning of Monday, August 3rd. The 1-200 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

Li Bang International Stock Performance

Shares of NASDAQ LBGJ traded down $0.01 during midday trading on Thursday, hitting $0.02. 88,036,586 shares of the company’s stock were exchanged, compared to its average volume of 8,851,752. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.15 and a quick ratio of 1.07. Li Bang International has a twelve month low of $0.02 and a twelve month high of $177.00. The firm’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $21.10.

Li Bang International (NASDAQ:LBGJ) last posted its earnings results on Wednesday, May 13th. The company reported ($1.28) earnings per share for the quarter. The company had revenue of $3.14 million during the quarter.

Analyst Upgrades and Downgrades

LBGJ has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Li Bang International to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Li Bang International in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 1,086,186 shares of Li Bang International stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $0.03, for a total value of $32,585.58. Following the transaction, the insider directly owned 148,795 shares of the company’s stock, valued at $4,463.85. The trade was a 87.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

About Li Bang International

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.