According to Eight Analysts, the mean estimate for the short term price target for hardwood flooring major Lumber Liquidators Holding stood at $63.13. A New York lawmaker on Tuesday called upon the state to start an investigation regarding Lumber Liquidators to see if its China-sourced laminate flooring contains unsafe levels of formaldehyde.

Shares of Lumber Liquidators Holdings Inc. fell over the past week. As per market analysts, the drop was ignited by allegations of excessive formaldehyde in its flooring.

Analysts said that it is high time for the investors of the company to remain cautious as the stock might still face changes from its mean price. The higher price target estimate for the stock has been calculated at $110, whereas the lower price target estimate is at $47.

The short interest information of the company was also disclosed recently. According to which, the short interest in Lumber Liquidators Holdings Inc. has increased from 6,901,603 on January 30, 2015 to 7,795,224 on February 13, 2015.

In a recent research note released to the investors, Janney Capital raised its rating on Lumber Liquidators Holdings Inc. Presently, the brokerage house has rating of Buy on the counter, but the shares were earlier rated as Neutral by the brokerage firm.

Lumber Liquidators Holdings Inc. rose 5.02% or 1.95 points in daily trade. The stock opened at $40.82, before the session concluded the last trade at $40.78.

This rising volatility led to a steep increase in volume which was recorded at 17 million shares. The previous session of the stock ended at $38.83.