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

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.47 and traded as low as $2.30. Art’s-Way Manufacturing shares last traded at $2.32, with a volume of 18,084 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Art’s-Way Manufacturing in a research note on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Art’s-Way Manufacturing Stock Down 2.9%

The stock has a market capitalization of $12.02 million, a price-to-earnings ratio of -232.00 and a beta of 0.95. The firm has a 50 day simple moving average of $2.59 and a 200-day simple moving average of $2.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.02 and a quick ratio of 0.58.

Art’s-Way Manufacturing (NASDAQ:ARTW) last issued its earnings results on Wednesday, July 15th. The industrial products company reported $0.03 EPS for the quarter. Art’s-Way Manufacturing had a negative net margin of 0.08% and a negative return on equity of 0.16%. The company had revenue of $7.85 million for the quarter.

Hedge Funds Weigh In On Art’s-Way Manufacturing

Several institutional investors have recently added to or reduced their stakes in ARTW. Renaissance Technologies LLC boosted its position in Art’s-Way Manufacturing by 13.7% in the first quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock valued at $296,000 after buying an additional 17,000 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Art’s-Way Manufacturing during the fourth quarter worth approximately $150,000. Dimensional Fund Advisors LP increased its holdings in shares of Art’s-Way Manufacturing by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after buying an additional 3,899 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Art’s-Way Manufacturing during the third quarter worth approximately $108,000. Finally, XTX Topco Ltd acquired a new position in shares of Art’s-Way Manufacturing in the 4th quarter worth approximately $51,000. 2.91% of the stock is owned by institutional investors.

Art’s-Way Manufacturing Company Profile

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.