LEXX Stock Summary and Trading Ideas (Lexaria Bioscience Corp. | NASDAQ:LEXX)

Lexaria Bioscience Corp's patented drug delivery technology, DehydraTECH improves the way active pharmaceutical ingredients enter the bloodstream by promoting more effective oral delivery. DehydraTECH can increase bio-absorption with cannabinoids and nicotine by 5-10x and, in some instances with cannabinoids by as much as 27x compared to standard industry formulations, reduce the time of onset from 1-2 hours to minutes, and mask unwanted tastes. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood-brain barrier. The company has four reportable segments: Intellectual Property Licensing which generates maximum revenue, B2B Production, Research and Development, and Corporate. Geographically, it derives revenue from the United States and Canada.

Lexaria Bioscience Corp. trades on the NASDAQ stock market under the symbol LEXX.

As of December 16, 2024, LEXX stock price declined to $2.16 with 175,553 million shares trading.

LEXX has a beta of 1.30, meaning it tends to be more sensitive to market movements. LEXX has a correlation of 0.02 to the broad based SPY ETF.

LEXX has a market cap of $37.70 million. This is considered a Sub-Micro Cap stock.

Last quarter Lexaria Bioscience Corp. reported $84,000 in Revenue and -$.15 earnings per share. This fell short of revenue expectation by $-66,000 and missed earnings estimates by -$.04.

In the last 3 years, LEXX traded as high as $6.85 and as low as $.65.

The top ETF exchange traded funds that LEXX belongs to (by Net Assets): VXF.

LEXX has outperformed the market in the last year with a price return of +51.0% while the SPY ETF gained +30.5%. However, in the short term, LEXX had mixed performance relative to the market. It has underperformed in the last 3 months, returning -37.0% vs +8.3% return in SPY. But in the last 2 weeks, LEXX shares have fared better than the market returning +3.8% compared to SPY +0.7%.

LEXX support price is $2.07 and resistance is $2.41 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LEXX shares will trade within this expected range on the day.