Natuzzi (NYSE:NTZ) Coverage Initiated at started coverage on shares of Natuzzi (NYSE:NTZGet Rating) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

Shares of Natuzzi stock opened at $12.03 on Wednesday. The stock has a market capitalization of $131.98 million, a price-to-earnings ratio of 35.38 and a beta of 1.81. Natuzzi has a 1-year low of $9.32 and a 1-year high of $23.11. The firm’s 50-day moving average price is $11.76 and its two-hundred day moving average price is $13.87.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTZ. Wells Fargo & Company MN bought a new position in Natuzzi in the second quarter valued at approximately $96,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Natuzzi in the third quarter worth $163,000. Apis Capital Advisors LLC acquired a new stake in Natuzzi in the third quarter worth $195,000. Finally, Morgan Stanley raised its holdings in Natuzzi by 1.4% in the third quarter. Morgan Stanley now owns 177,675 shares of the company’s stock worth $2,891,000 after purchasing an additional 2,461 shares during the period. 16.06% of the stock is currently owned by institutional investors and hedge funds.

Natuzzi Company Profile (Get Rating)

Natuzzi S.p.A. designs, manufactures, and markets leather and fabric upholstered furniture through its own and franchised stores worldwide. The company operates through two segments, Natuzzi Brand and Private Label. Its products primarily include stationary furniture, such as sofas, loveseats, and armchairs; sectional furniture; motion furniture; sofa beds; occasional chairs, including recliners and massage chairs; and home furnishing accessories, including coffee tables, lamps, rugs, home accessories, and wall units.

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