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Limoneira (NASDAQ: LMNR) was the subject of a research note published on Thursday, in which the equity analysts at Roth Capital reduced their target price for the company from $20.00 to $17.00. According to the price target established by Roth Capital, there is the potential for an increase in the stock’s price beyond its current value, which is 38.10%.
Separately, a research note covering Limoneira’s shares was first covered by StockNews.com on October 12th, which was also the day the website began covering the company. They recommended that shareholders “hold” their shares of the company.
The NASDAQ: LMNR stock began trading for the first time on Thursday for $12.31 per share. Over the previous year, the price of Limoneira ranged from a low of $10.44 to a high of $16.41 at its most expensive. The debt-to-equity ratio is 0.57, the current ratio is 0.96, and the quick ratio is 0.74. All of these numbers are relative to one another. Moreover, these numbers can all be understood by one another. The current value of the 50-day simple moving average for the company is $12.92, and the current value of the 200-day simple moving average is $13.06. The stock currently has a total market capitalization of $217.64 million, the price per share is $0.63, the price-to-earnings ratio (P/E/G) is 3.88, and the price-to-earnings ratio (P/E) is 205.13.
During the previous few months, hedge funds have either increased or decreased the amount of the company’s stock that they hold. CWM LLC increased its stake in Limoneira by 8.9% during the second quarter by purchasing additional shares. Because of the purchase of 4,358 additional shares during the most recent quarter, CWM LLC is now the owner of 53,586 shares in the company. Based on the current share price, this gives the company a total value of $75,000. Marquette Asset Management L.L.C. made a financial investment in Limoneira totaling 138 thousand dollars during the second quarter of the fiscal year. Limoneira received an investment from Prescott Group Capital Management L.L.C. for $477.00 during the year’s second quarter. Crown Advisors Management Inc. increased its ownership stake in Limoneira to 100 percent by investing an additional $2,130,000 during the second quarter of the fiscal year. Global Alpha Capital Management Ltd. increased its holdings in Limoneira by 2.9% during the second quarter, bringing the total ownership it has in the company to 71.1%. Global Alpha Capital Management Ltd. now has a total of 2,146,224 shares of the company’s stock, which are currently valued at $30,244,000, after the acquisition of an additional 60,200 shares during the most recent quarter. Institutional investors and hedge funds own 41.6 percent of the company’s shares. Other shareholders make up the remaining 63.8 percent.
In addition to its operations in the local market, the Limoneira Company is also involved in international trade. The Limoneira Company is an agribusiness and real estate development firm specializing in these areas. The organization is structured in a way that allows for division into three distinct branches: rental businesses, agricultural businesses, and real estate development. The company is responsible for the cultivation of lemons on the property, as well as their processing, packaging, marketing, and sales. In addition, the company is involved in the cultivation of grapefruit and growing pummelo, pistachios, wine grapes, Moro blood oranges, Cara Cara oranges, Minneola tangelos, and Star Ruby grapefruit. Grapefruit is also one of the crops that Star Ruby grapefruit is grown alongside.
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