Lake Success-based Hain Celestial Group Inc. announced Friday it was selected to be added to the Nasdaq Q-50 Index effective before the market opens Monday.
The decision to add the organic and natural products company, with brands including Celestial Seasonings, Earth's Best, Terra and Spectrum, was part of the quarterly re-ranking by the Nasdaq stock exchange.
The Nasdaq Q-50 Index is designed to track the performance of stocks that are eligible for inclusion into the Nasdaq-100 Index. The index comprises 50 securities ranked by market capitalization, reflecting various companies in the computer hardware and software, telecommunications, retail/wholesale trade and biotechnology industries.
"As the founder of Hain Celestial, I am pleased with the addition of Hain Celestial's security to Nasdaq's Q-50 Index, which is another great milestone achievement for the company," Hain Celestial founder and CEO Irwin Simon said in a statement.
Last month, Hain Celestial reported record fiscal-year sales driven by international acquisitions. The company posted net sales for fiscal 2015 ended June 30 of $2.69 billion, an increase of 25 percent from $2.15 billion in the prior fiscal year.
Shares of Hain Celestial were 8 cents lower at $58.78 in midday trading.