Lakeland Industries, Inc. (NASDAQ:LAKE) was able to improve its business and strengthen its balance sheet in the wake of the Ebola crisis, CEO, Christopher J. Ryan, said. The company makes and markets protective garments that have been widely used by healthcare workers and other people working in conditions prone to Ebola.
Lakeland Industries, Inc. (NASDAQ:LAKE) increased its output level for the protective garments through the acquisition of new machinery and hiring of more workers. The company also accelerated investment in the area through increased spending on the acquisition of raw materials.
Lakeland Industries, Inc. (NASDAQ:LAKE) continues to face significant interest for its protective garments, especially the ChemMAX and MicroMAX brands. Cash flow increased, and the balance sheet strengthened even as the company strived to make the protective garments available on demand.
Alpha Pro Tech, Ltd. (NYSEMKT:APT), another provider of hazmat suits, is gaining primarily on the positive Ebola update by its rival Lakeland Industries, Inc. (NASDAQ:LAKE). The Ebola crisis created a big demand for protective garments, and the companies took advantage of the opportunity.
Meanwhile, Alpha Pro Tech, Ltd. (NYSEMKT:APT)’s VP, Charles D. Montgomery, recently moved to reduce his exposure to the stock by dropping some shares he holds in the company. Montgomery offloaded 150,070 shares at an average price of $4.21 and ended up fetching $631,794 in proceeds, according to SEC filing. The insider selling in Alpha Pro Tech, Ltd. (NYSEMKT:APT) happened at a time when the stock has gained nearly 80% this year.
Ibio Inc (NYSEMKT:IBIO)’s current gains can also be traced to the upbeat update that Lakeland Industries, Inc. (NASDAQ:LAKE) provided about its participation in the fight against Ebola. It said its business improved significantly because of the widespread interest in its protective garments. That announcement appears to suggest that other Ebola stocks such as Ibio Inc (NYSEMKT:IBIO) may also have something to show from their participation in the fight against the virus.
Ibio Inc (NYSEMKT:IBIO) offered its proprietary drug development platform for the development of antibody-based treatments for Ebola. However, lawsuits have been filed against the company over claims that it misled investors about its opportunities in the fight against Ebola.
