The trading price of Lexaria Bioscience Corp. (NASDAQ:LEXX) closed higher on Tuesday, May 23, closing at $0.78, 13.21% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $0.70 and $0.88. In examining the 52-week price action we see that the stock hit a 52-week high of $3.60 and a 52-week low of $0.65. Over the past month, the stock has lost -65.46% in value.
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Lexaria Bioscience Corp., whose market valuation is $5.51 million at the time of this writing, is expected to release its quarterly earnings report Jul 12, 2023 – Jul 17, 2023. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0 per share this quarter, however they have predicted annual earnings per share of -$1.07 for 2023 and -$0.84 for 2024. It means analysts are expecting annual earnings per share growth of 13.70% this year and 21.50% next year.
From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $450k. The company’s revenue is forecast to grow by 76.50% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Lexaria Bioscience Corp. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest LEXX has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that LEXX’s price is currently -38.56% off the SMA20 and -60.79% off the SMA50. The RSI metric on the 14-day chart is currently showing 25.57, and weekly volatility stands at 16.55%. When measured over the past 30 days, the indicator reaches 11.55%. Lexaria Bioscience Corp. (NASDAQ:LEXX)’s beta value is currently sitting at 1.15, while the Average True Range indicator is currently displaying 0.14.
To see how Lexaria Bioscience Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: LEXX stock’s performance was 13.21% in the latest trading, and -61.17% in the past year. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.
An evaluation of the daily trading volume of Lexaria Bioscience Corp. (NASDAQ:LEXX) indicates that the 3-month average is 109.48K. However, this figure has increased over the past 10 days to an average of 0.56 million.
Currently, records show that 5.95 million of the company’s shares remain outstanding. The insiders hold 5.20% of outstanding shares, whereas institutions hold 11.60%. The stats also highlight that short interest as of Apr 27, 2023, stood at 0.3 million shares, resulting in a short ratio of 20.11 at that time. From this, we can conclude that short interest is 5.07% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 0.34 million. However, since the stock’s price has seen -68.27% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
