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

Natuzzi S.p.A. (NYSE:NTZGet Rating) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,100 shares, an increase of 63.2% from the March 31st total of 1,900 shares. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is presently 0.4 days.

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN bought a new position in Natuzzi in the second quarter worth approximately $96,000. Cambridge Investment Research Advisors Inc. bought a new position in Natuzzi in the third quarter worth approximately $163,000. Apis Capital Advisors LLC bought a new position in Natuzzi in the third quarter worth approximately $195,000. Finally, Morgan Stanley raised its stake 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 buying an additional 2,461 shares in the last quarter. 16.06% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:NTZ traded down $0.29 during trading hours on Friday, hitting $11.92. 4,498 shares of the company’s stock traded hands, compared to its average volume of 8,166. Natuzzi has a 1 year low of $9.32 and a 1 year high of $23.11. The business has a fifty day moving average price of $11.85 and a 200-day moving average price of $13.81. The firm has a market capitalization of $130.76 million, a P/E ratio of 35.06 and a beta of 1.81.

Separately, assumed coverage on Natuzzi in a report on Wednesday. They set a “hold” rating on the stock.

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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