Natuzzi, S.p.A. (NYSE:NTZ) Sees Large Drop in Short Interest

Natuzzi, S.p.A. (NYSE:NTZ) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 542 shares, a drop of 61.4% from the June 15th total of 1,405 shares. Based on an average daily trading volume, of 295 shares, the short-interest ratio is currently 1.8 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Natuzzi

Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in Natuzzi in the third quarter valued at approximately $36,000. Benjamin Edwards Inc. boosted its holdings in shares of Natuzzi by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock worth $648,000 after buying an additional 38,350 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Natuzzi during the 1st quarter worth approximately $1,817,000. Finally, Kanen Wealth Management LLC grew its position in shares of Natuzzi by 2.8% during the 1st quarter. Kanen Wealth Management LLC now owns 2,222,276 shares of the company’s stock worth $6,778,000 after buying an additional 60,140 shares during the period. Institutional investors and hedge funds own 6.07% of the company’s stock.

Natuzzi Price Performance

NTZ stock remained flat at $1.64 during midday trading on Wednesday. 5,650 shares of the company traded hands, compared to its average volume of 2,282. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.89. The company’s fifty day moving average price is $2.24 and its two-hundred day moving average price is $2.72. Natuzzi has a 1-year low of $1.50 and a 1-year high of $4.06.

Natuzzi (NYSE:NTZ) last issued its quarterly earnings results on Friday, May 15th. The company reported ($1.55) earnings per share for the quarter. Natuzzi had a negative return on equity of 76.40% and a negative net margin of 9.71%.The business had revenue of $90.93 million for the quarter.

Natuzzi Company Profile

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.