Short Interest in Li Bang International Corporation Inc. (NASDAQ:LBGJ) Drops By 87.3%

Li Bang International Corporation Inc. (NASDAQ:LBGJ) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 114,481 shares, a decline of 87.3% from the July 30th total of 903,158 shares. Based on an average daily trading volume, of 2,196,957 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1,908.0% of the company’s stock are sold short.

Li Bang International Stock Up 11.1%

Shares of LBGJ stock traded up $0.33 during trading on Wednesday, hitting $3.28. The company had a trading volume of 1,334,040 shares, compared to its average volume of 227,966. Li Bang International has a one year low of $2.81 and a one year high of $35,400.00. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $127.04 and its 200 day moving average price is $2,290.25.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Li Bang International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Wall Street Zen raised Li Bang International to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Insider Activity

In related news, Director Funa Li acquired 15,088 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $3.40 per share, with a total value of $51,299.20. Following the transaction, the director owned 15,220 shares of the company’s stock, valued at $51,748. The trade was a 11,430.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Feng Huang bought 73,147 shares of Li Bang International stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average cost of $3.40 per share, with a total value of $248,699.80. Following the completion of the purchase, the chief executive officer owned 73,788 shares in the company, valued at approximately $250,879.20. This trade represents a 11,411.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 93,578 shares of company stock worth $332,057 over the last quarter.

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.