Lifetime Brands, Inc. (NASDAQ:LCUT) Sees Significant Growth in Short Interest

Lifetime Brands, Inc. (NASDAQ:LCUT) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 329,500 shares, a growth of 15.5% from the January 15th total of 285,200 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 56,300 shares, the short-interest ratio is presently 5.9 days.

Hedge Funds Weigh In On Lifetime Brands

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Lifetime Brands in the 3rd quarter worth about $67,000. BNP Paribas Financial Markets increased its stake in Lifetime Brands by 657.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,096 shares of the company’s stock worth $118,000 after acquiring an additional 15,708 shares during the last quarter. Barclays PLC increased its stake in Lifetime Brands by 38.7% in the 3rd quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after acquiring an additional 5,302 shares during the last quarter. Quadrature Capital Ltd bought a new position in Lifetime Brands in the 3rd quarter worth about $128,000. Finally, Hohimer Wealth Management LLC bought a new position in Lifetime Brands in the 3rd quarter worth about $133,000. 40.62% of the stock is currently owned by institutional investors.

Lifetime Brands Price Performance

LCUT traded down $0.06 during trading on Monday, reaching $5.20. 32,557 shares of the company were exchanged, compared to its average volume of 49,312. The company’s 50-day moving average is $5.84 and its two-hundred day moving average is $6.24. The company has a market cap of $115.23 million, a price-to-earnings ratio of -5.25, a P/E/G ratio of 0.51 and a beta of 1.28. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.88. Lifetime Brands has a 12-month low of $4.86 and a 12-month high of $11.68.

Analysts Set New Price Targets

A number of research analysts have recently commented on LCUT shares. DA Davidson cut Lifetime Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $11.50 to $6.75 in a research report on Monday, February 3rd. StockNews.com cut Lifetime Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th.

Lifetime Brands Company Profile

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.