LSI Industries falls on downgrade
Shares of LSI Industries Inc. (Nasdaq:LYTS) are lower on news before the opening that the provider of indoor and outdoor lighting solutions was downgraded by an analyst. The Cincinnati, Ohio-based company was downgraded to “hold” from “buy” by investment bank Needham & Co. due to concerns that a weak retail environment could harm product sales, according to news reports.
At 2:33 p.m. ET, the stock had shed $1.24, or 8%, to $13.45. For detailed price information and recent news stories about LSI Industries, click LYTS.
