Art’s-Way Manufacturing (NASDAQ:ARTW) Share Price Passes Below 50 Day Moving Average – Here’s Why

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.63 and traded as low as $2.56. Art’s-Way Manufacturing shares last traded at $2.56, with a volume of 17,208 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Art’s-Way Manufacturing from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Art’s-Way Manufacturing Trading Up 1.6%

The stock has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $2.47. The company has a current ratio of 2.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $13.05 million, a P/E ratio of 10.08 and a beta of 0.95.

Art’s-Way Manufacturing (NASDAQ:ARTW) last released its quarterly earnings results on Thursday, July 9th. The industrial products company reported $0.03 earnings per share for the quarter. Art’s-Way Manufacturing had a net margin of 5.26% and a return on equity of 0.98%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Art’s-Way Manufacturing by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 17,000 shares in the last quarter. DRW Securities LLC bought a new position in shares of Art’s-Way Manufacturing in the fourth quarter worth approximately $150,000. Dimensional Fund Advisors LP increased its stake in shares of Art’s-Way Manufacturing by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 3,899 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Art’s-Way Manufacturing in the third quarter worth $108,000. Finally, XTX Topco Ltd purchased a new stake in shares of Art’s-Way Manufacturing in the fourth quarter worth $51,000. 2.91% of the stock is owned by hedge funds and other institutional investors.

About Art’s-Way Manufacturing

Art’s-Way Manufacturing Co, Inc (NASDAQ: ARTW) is a diversified industrial company that designs, manufactures and markets a range of agricultural and building products. The company’s agricultural equipment segment produces feed grinders, mixers, conveyors and related implements used in livestock and crop?feeding operations. These products are engineered to streamline feed preparation and delivery for hog, beef and dairy producers across North America.

In its building products segment, Art’s-Way offers prefabricated steel structures, modular shelters and portable storage solutions suitable for agriculture, industrial and commercial applications.