MamaMancini’s (NASDAQ:MMMB) Share Price Passes Above 50 Day Moving Average of $2.01

Shares of MamaMancini’s Holdings, Inc. (NASDAQ:MMMB – Get Rating) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.01 and traded as high as $2.68. MamaMancini’s shares last traded at $2.68, with a volume of 59,835 shares traded.

Analysts Set New Price Targets

Separately, Lake Street Capital began coverage on shares of MamaMancini’s in a research note on Tuesday, February 7th. They set a “buy” rating for the company.

MamaMancini’s Stock Performance

The company has a market cap of $97.34 million, a PE ratio of 38.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.01 and a current ratio of 1.32. The firm’s 50 day moving average is $2.01 and its 200-day moving average is $1.73.

MamaMancini’s (NASDAQ:MMMB – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. MamaMancini’s had a net margin of 2.45% and a return on equity of 23.18%. The company had revenue of $22.80 million during the quarter, compared to analysts’ expectations of $23.90 million. On average, research analysts anticipate that MamaMancini’s Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MamaMancini’s

Several institutional investors and hedge funds have recently bought and sold shares of MMMB. Vanguard Group Inc. boosted its holdings in MamaMancini’s by 61.4% in the 1st quarter. Vanguard Group Inc. now owns 332,476 shares of the company’s stock valued at $555,000 after purchasing an additional 126,485 shares during the last quarter. Virtu Financial LLC acquired a new position in MamaMancini’s in the 1st quarter valued at about $30,000. Prime Capital Investment Advisors LLC acquired a new position in MamaMancini’s in the 3rd quarter valued at about $55,000. Perritt Capital Management Inc. boosted its holdings in MamaMancini’s by 169.6% in the 3rd quarter. Perritt Capital Management Inc. now owns 532,463 shares of the company’s stock valued at $580,000 after purchasing an additional 334,963 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of MamaMancini’s in the 3rd quarter worth approximately $103,000. 12.23% of the stock is currently owned by institutional investors and hedge funds.

About MamaMancini’s

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MamaMancini’s Holdings, Inc engages in the marketing, manufacturing, and distribution of beef meatballs with sauce, turkey meatballs with sauce, beef meat loaf, sausage and peppers, chicken parmesan, and other similar meats and sauces. Its products include beef meatballs, turkey meatballs, stuffed meatballs, lasagna roll ups, retail ready meals, bulk deli, single-size pasta bowls, and packaged refrigerated products.