Natuzzi, S.p.A. (NYSE:NTZ) Short Interest Up 143.9% in June

Natuzzi, S.p.A. (NYSE:NTZ) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 1,405 shares, an increase of 143.9% from the May 31st total of 576 shares. Based on an average daily trading volume, of 1,824 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.0% of the shares of the company are sold short.

Natuzzi Trading Down 3.6%

Natuzzi stock traded down $0.07 during trading hours on Tuesday, hitting $1.85. The stock had a trading volume of 247 shares, compared to its average volume of 1,106. The company has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.77. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.89. Natuzzi has a fifty-two week low of $1.85 and a fifty-two week high of $4.06.

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

Hedge Funds Weigh In On Natuzzi

Hedge funds have recently made changes to their positions in the business. Kanen Wealth Management LLC raised its position in Natuzzi by 2.8% in the first quarter. Kanen Wealth Management LLC now owns 2,222,276 shares of the company’s stock worth $6,778,000 after purchasing an additional 60,140 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Natuzzi in the 1st quarter valued at approximately $1,817,000. Benjamin Edwards Inc. grew its stake in shares of Natuzzi by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after purchasing an additional 38,350 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Natuzzi in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 6.07% of the company’s stock.

About Natuzzi

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.