Natuzzi (NYSE:NTZ) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Natuzzi S.p.A. (NYSE:NTZ)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.54 and traded as low as $3.95. Natuzzi shares last traded at $4.09, with a volume of 3,222 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Natuzzi in a research note on Saturday. They issued a “hold” rating for the company.

Natuzzi Stock Performance

The firm has a 50-day moving average price of $4.64 and a 200-day moving average price of $4.54.

Institutional Investors Weigh In On Natuzzi

A hedge fund recently raised its stake in Natuzzi stock. Kanen Wealth Management LLC lifted its stake in shares of Natuzzi S.p.A. (NYSE:NTZ) by 5.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,763,136 shares of the company’s stock after purchasing an additional 96,890 shares during the period. Natuzzi makes up about 3.5% of Kanen Wealth Management LLC’s holdings, making the stock its 10th biggest position. Kanen Wealth Management LLC owned 16.01% of Natuzzi worth $8,657,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.07% of the company’s stock.

About Natuzzi

Natuzzi S.p.A. engages in the design, manufacture, and marketing of leather and fabric upholstered furniture through its own and franchised stores in the United States, Italy, China, Brazil, Spain, Mexico, Canada, Australia, Belgium, the United Arab Emirates, South Korea, Israel, Taiwan, the United Kingdom, and internationally.