Natuzzi (NYSE:NTZ) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Natuzzi, S.p.A. (NYSE:NTZ)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.94 and traded as low as $2.85. Natuzzi shares last traded at $3.00, with a volume of 5,377 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Natuzzi in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Natuzzi Stock Performance

The business’s 50 day moving average price is $3.05 and its 200 day moving average price is $2.94.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kanen Wealth Management LLC boosted its stake in shares of Natuzzi by 5.8% during the 1st quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after acquiring an additional 96,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Natuzzi in the 1st quarter valued at about $1,817,000. Benjamin Edwards Inc. raised its holdings in Natuzzi by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock worth $648,000 after purchasing an additional 38,350 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Natuzzi in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 6.07% of the company’s stock.

About Natuzzi

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.