NEW YORK (TheStreet) -- Shares of Lakeland Industries (LAKE) surged more than 50% to hit a 52-week high of $18.60 in morning trading Thursday after the first U.S. patient diagnosed with the Ebola virus died in the Dallas area on Wednesday.
Lakeland manufactures hazmat suits that healthcare workers use to prevent contracting the virus. The company announced in September the suits would be available worldwide.
The climb marks the fifth consecutive day of gains for Lakeland, and shares have more than doubled year to date.
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More than 20 million shares had changed hands as of 11:30 a.m., which eclipsed the average volume of 615,565.
Separately, TheStreet Ratings team rates LAKELAND INDUSTRIES INC as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAKELAND INDUSTRIES INC (LAKE) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and poor profit margins."