Art’s-Way Manufacturing (NASDAQ:ARTW) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.45 and traded as low as $2.15. Art’s-Way Manufacturing shares last traded at $2.21, with a volume of 9,475 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Art’s-Way Manufacturing from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Art’s-Way Manufacturing Price Performance

The firm has a market capitalization of $11.45 million, a PE ratio of 11.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.30 and a quick ratio of 0.48. The business’s 50 day moving average is $2.36 and its two-hundred day moving average is $2.45.

Art’s-Way Manufacturing (NASDAQ:ARTW) last released its quarterly earnings results on Wednesday, February 4th. The industrial products company reported ($0.13) EPS for the quarter. The company had revenue of $5.07 million during the quarter. Art’s-Way Manufacturing had a negative return on equity of 0.90% and a net margin of 4.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARTW. Susquehanna International Group LLP purchased a new position in shares of Art’s-Way Manufacturing in the 3rd quarter worth about $47,000. XTX Topco Ltd purchased a new position in shares of Art’s-Way Manufacturing during the 4th quarter valued at about $51,000. Dimensional Fund Advisors LP raised its holdings in shares of Art’s-Way Manufacturing by 142.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,780 shares of the industrial products company’s stock valued at $96,000 after buying an additional 23,983 shares in the last quarter. Citadel Advisors LLC bought a new stake in Art’s-Way Manufacturing in the 3rd quarter worth approximately $108,000. Finally, DRW Securities LLC bought a new stake in Art’s-Way Manufacturing in the 4th quarter worth approximately $150,000. Institutional investors own 2.91% of the company’s stock.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc (NASDAQ: ARTW) is a diversified industrial company that designs, manufactures and markets a range of agricultural and building products. The company’s agricultural equipment segment produces feed grinders, mixers, conveyors and related implements used in livestock and crop‐feeding operations. These products are engineered to streamline feed preparation and delivery for hog, beef and dairy producers across North America.

In its building products segment, Art’s-Way offers prefabricated steel structures, modular shelters and portable storage solutions suitable for agriculture, industrial and commercial applications.