America’s Car-Mart (NASDAQ:CRMT) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of America’s Car-Mart, Inc. (NASDAQ:CRMT) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $1.42 and traded as high as $1.55. America’s Car-Mart shares last traded at $1.52, with a volume of 395,413 shares traded.

Wall Street Analyst Weigh In

CRMT has been the subject of a number of recent research reports. Weiss Ratings cut America’s Car-Mart from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Wall Street Zen raised America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $14.00.

America’s Car-Mart Stock Performance

The stock has a market capitalization of $12.68 million, a P/E ratio of -0.06 and a beta of 1.33. The stock’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $8.85.

America’s Car-Mart (NASDAQ:CRMT) last announced its quarterly earnings results on Wednesday, September 9th. The company reported ($6.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($5.98). The business had revenue of $89.90 million during the quarter, compared to analyst estimates of $253.03 million. America’s Car-Mart had a negative net margin of 18.21% and a negative return on equity of 15.19%.

Institutional Trading of America’s Car-Mart

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in America’s Car-Mart in the second quarter valued at $29,000. Engineers Gate Manager LP raised its position in America’s Car-Mart by 41.5% during the 2nd quarter. Engineers Gate Manager LP now owns 15,268 shares of the company’s stock worth $43,000 after purchasing an additional 4,475 shares during the last quarter. Quantinno Capital Management LP raised its position in America’s Car-Mart by 41.4% during the 1st quarter. Quantinno Capital Management LP now owns 45,899 shares of the company’s stock worth $584,000 after purchasing an additional 13,434 shares during the last quarter. GSA Capital Partners LLP bought a new position in America’s Car-Mart during the 2nd quarter worth $135,000. Finally, Hsbc Holdings PLC raised its position in America’s Car-Mart by 734.9% during the 2nd quarter. Hsbc Holdings PLC now owns 105,794 shares of the company’s stock worth $295,000 after purchasing an additional 93,122 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc is a specialty automotive retailer that sells used vehicles and provides financing to consumers, including customers who may have limited or damaged credit histories. The company operates under a “buy here, pay here” business model, generally originating and servicing installment loans for vehicles purchased through its dealerships.

Its dealerships offer a selection of used cars, trucks and sport utility vehicles, with inventory typically acquired through auctions, trade-ins and other wholesale channels.