OneWater Marine (NASDAQ:ONEW) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

OneWater Marine Inc. (NASDAQ:ONEW) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.99 and traded as low as $9.85. OneWater Marine shares last traded at $9.90, with a volume of 70,163 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial lowered their price target on shares of OneWater Marine from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research note on Wednesday, November 4th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.00.

OneWater Marine Stock Performance

The company has a market capitalization of $164.20 million, a P/E ratio of -1.32 and a beta of 1.58. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.22 and a quick ratio of 0.34. The company has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $10.94.

Institutional Investors Weigh In On OneWater Marine

A number of institutional investors have recently added to or reduced their stakes in ONEW. Global Retirement Partners LLC acquired a new position in shares of OneWater Marine during the third quarter worth $66,000. Russell Investments Group Ltd. grew its stake in shares of OneWater Marine by 18.5% in the third quarter. Russell Investments Group Ltd. now owns 125,671 shares of the company’s stock worth $1,198,000 after purchasing an additional 19,616 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in OneWater Marine in the third quarter valued at $28,000. Empowered Funds LLC increased its holdings in OneWater Marine by 9.5% in the first quarter. Empowered Funds LLC now owns 52,126 shares of the company’s stock valued at $493,000 after purchasing an additional 4,501 shares during the period. Finally, Quantinno Capital Management LP raised its position in OneWater Marine by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 50,338 shares of the company’s stock worth $476,000 after purchasing an additional 24,442 shares during the last quarter. 94.32% of the stock is owned by institutional investors.

OneWater Marine Company Profile

OneWater Marine, Inc. is a recreational marine retailer that sells new and pre-owned boats through a network of dealerships across the United States. Its offerings include a range of recreational vessels, such as fishing boats, pontoons, sport boats and yachts. The company also provides boating-related services, including maintenance and repairs, parts and accessories, and financing and insurance assistance. These services support customers throughout the boat ownership process. OneWater Marine was established in 2014 and grew through the combination and acquisition of marine dealerships.