Leading Brands Inc (LBIX) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the consumer goods sector halfway through the trading day. At the lunch break, shares of LBIX have fallen 4.02% to $1.91 after closing the day prior at $1.99. So far, the stock has traded as high as $2.06 and as low as $1.91. Today’s decline has come with about 20,085 shares changing hands, compared to an average 30-day volume of 38,182 for Leading Brands Inc. The price is currently below the 30-day volume weighted average price of $1.96 for LBIX.
The share depreciation gives the company a market capitalization of $5.69 million based upon 2.86 million shares outstanding. It also means that LBIX has a price-to-book ratio of 0.64:1.
In the past 52 weeks, shares of LBIX have traded as low as $1.3101 and as high as $3.76. Technical traders will take note that at $1.91, shares of LBIX are trading below their 200-day MA at $2.15 and below their 50-day MA at $2.15. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is LBIX?
Leading Brands Inc along with its subsidiaries engages in beverage bottling, distribution, sales, merchandising, brand development and brand management of beverage products. Its product line includes juices and premium beverages. The company’s 73 employees are led by CEO Ralph D. Mcrae from the corporate headquarters at 33 West 8th Avenue in Vancouver, BC.
For more information on LBIX and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.
All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.
FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.