Lifeway Foods (NASDAQ:LWAY) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Lifeway Foods (NASDAQ:LWAY) in a research report issued on Tuesday. The firm set a “hold” rating on the stock.

Separately, Noble Financial downgraded Lifeway Foods from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 24th.

Lifeway Foods Price Performance

Lifeway Foods stock opened at $22.94 on Tuesday. The company’s 50-day moving average is $24.76 and its 200-day moving average is $19.87. The firm has a market capitalization of $339.97 million, a PE ratio of 26.67 and a beta of 1.01. Lifeway Foods has a fifty-two week low of $9.93 and a fifty-two week high of $28.61.

Hedge Funds Weigh In On Lifeway Foods

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Lifeway Foods by 56.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,589 shares of the company’s stock worth $748,000 after buying an additional 21,168 shares during the period. Bailard Inc. bought a new position in shares of Lifeway Foods during the second quarter worth approximately $253,000. Panagora Asset Management Inc. acquired a new stake in Lifeway Foods during the 2nd quarter worth approximately $267,000. Rhumbline Advisers lifted its holdings in Lifeway Foods by 2,334.0% during the 2nd quarter. Rhumbline Advisers now owns 4,868 shares of the company’s stock worth $62,000 after purchasing an additional 4,668 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Lifeway Foods by 184.0% in the 2nd quarter. Acadian Asset Management LLC now owns 46,184 shares of the company’s stock valued at $589,000 after purchasing an additional 29,922 shares during the period. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Lifeway Foods Company Profile

Lifeway Foods, Inc produces and markets probiotic-based products in the United States and internationally. Its primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and types. The company offers European-style soft cheeses; cream and other products; ProBugs, a line of kefir products designed for children; drinkable yogurt; and fresh made butter and sour cream.