Lexaria Bioscience Corp (NASDAQ:LEXX) traded at $4.00 at close of the session on Tuesday, March 19, made an upward move of 17.65% on its previous day’s price.
Looking at the stock we see that its previous close was $3.40 and the beta (5Y monthly) reads 0.92 . In terms of its 52-week price range, LEXX has a high of $6.85 and a low of $0.65. The company’s stock has gained about 86.92% over that past 30 days.
Lexaria Bioscience Corp has a market cap of $49.52 million and is expected to release its quarterly earnings report on Apr 12, 2024 – Apr 16, 2024. Estimates by analysts give the company expected earnings per share (EPS) of -$0.1, with the EPS growth for the year raised at -$0.53 for 2024 and -$0.49 for next year. These figures represent 47.50% and 7.50% growth in EPS for the two years respectively.
According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $480k, or 112.40% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the LEXX stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note the current price level is 14.33% off its SMA20 and 64.25% from its 50-day simple moving average. The RSI (14) is pointing at 55.22 while the volatility over the past week is 24.50% and jumps to 23.70% over the past one month. The beta value is 0.93, while the average true range (ATR) is currently pointing at 0.80.
Coming back to Lexaria Bioscience Corp (NASDAQ:LEXX), we note that the average 3-month trading volume was 423.90K, while that of the preceding 10-day period stands at 1.3 million. Current shares outstanding are 12.38 million.
The insiders hold 12.84% of the company’s shares while institutions hold 9.70%. The data shows that short shares as of Feb 29, 2024, stood at 0.67 million at a short ratio of 1.95. This represents a 5.40% short interest in shares outstanding on Feb 29, 2024. Shares short rose in February from the previous month at 0.59 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 220.00% up in year-to-date price movement.
