Duluth (NASDAQ:DLTH) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Duluth Holdings Inc. (NASDAQ:DLTH) shares passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $4.12 and traded as low as $4.04. Duluth shares last traded at $4.07, with a volume of 45,563 shares trading hands.

Key Duluth News

Here are the key news stories impacting Duluth this week:

• Neutral Sentiment: A market-data update reported zero shares sold short as of September 24, implying no measurable short-selling pressure and little potential for a short-squeeze catalyst. The report’s wording is internally inconsistent, however, because it also describes a “significant increase” in short interest.
• Negative Sentiment: DLTH shares moved below their 50-day moving average, a technical signal that can encourage short-term selling and weaken investor sentiment. The stock’s 50-day average was approximately $4.11, versus a 200-day average near $3.73, leaving the shares above longer-term support but below a key near-term trend indicator. Duluth Stock Passes Below 50 Day Moving Average

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DLTH shares. Zacks Research lowered shares of Duluth from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Duluth from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday. Wall Street Zen raised Duluth from a “hold” rating to a “buy” rating in a research report on Saturday, September 12th. Finally, Robert W. Baird lowered Duluth from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Duluth Price Performance

The firm has a market cap of $150.90 million, a P/E ratio of 28.36 and a beta of 1.38. The business’s fifty day simple moving average is $4.11 and its 200-day simple moving average is $3.74. The company has a current ratio of 1.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.28.

Duluth (NASDAQ:DLTH) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.51. The company had revenue of $121.39 million for the quarter, compared to analyst estimates of $119.91 million. Duluth had a negative return on equity of 3.03% and a net margin of 1.07%. As a group, analysts forecast that Duluth Holdings Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Duluth

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AXQ Capital LP purchased a new stake in Duluth in the 2nd quarter worth approximately $47,000. Squarepoint Ops LLC bought a new position in shares of Duluth in the second quarter worth $108,000. Yarger Wealth Strategies LLC increased its holdings in shares of Duluth by 131.3% in the second quarter. Yarger Wealth Strategies LLC now owns 74,973 shares of the company’s stock worth $336,000 after purchasing an additional 42,554 shares during the period. Sei Investments Co. raised its position in shares of Duluth by 114.8% in the first quarter. Sei Investments Co. now owns 363,551 shares of the company’s stock worth $1,149,000 after buying an additional 194,302 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in shares of Duluth in the second quarter worth $3,255,000. Institutional investors own 24.39% of the company’s stock.

Duluth Company Profile

Duluth Holdings Inc, operating under the Duluth Trading brand, is an American lifestyle retailer that designs and sells casual, workwear and outdoor apparel for men and women. Its product range includes shirts, pants, jeans, jackets, base layers, underwear, footwear and accessories, along with selected tools, gear and gift items.

The company is known for products marketed around durability, utility and comfort, including Fire Hose workwear, Buck Naked underwear and other apparel designed for outdoor activities, trades work and everyday use.