Martin Midstream Partners (NASDAQ:MMLP) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.90 and traded as high as $2.91. Martin Midstream Partners shares last traded at $2.73, with a volume of 11,496 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Martin Midstream Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Martin Midstream Partners currently has an average rating of “Sell”.

Martin Midstream Partners Stock Down 2.8%

The stock has a market capitalization of $106.63 million, a P/E ratio of -5.25 and a beta of 0.58. The business’s 50 day simple moving average is $2.66 and its two-hundred day simple moving average is $2.90.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Nomura Holdings Inc. raised its position in Martin Midstream Partners by 12.3% in the 2nd quarter. Nomura Holdings Inc. now owns 3,837,328 shares of the pipeline company’s stock valued at $11,320,000 after buying an additional 420,000 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Martin Midstream Partners in the 2nd quarter worth $99,000. Levin Capital Strategies L.P. bought a new stake in shares of Martin Midstream Partners in the 2nd quarter worth $162,000. Bank of America Corp DE raised its holdings in shares of Martin Midstream Partners by 216.0% in the second quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after purchasing an additional 397,163 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of Martin Midstream Partners by 298.9% during the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 33,064 shares in the last quarter. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.