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

Natuzzi, S.p.A. (NYSE:NTZ)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.90 and traded as low as $2.88. Natuzzi shares last traded at $2.88, with a volume of 1,058 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Natuzzi in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Natuzzi Stock Down 6.8%

The business has a 50 day moving average price of $3.04 and a 200 day moving average price of $2.90.

Institutional Trading of Natuzzi

A number of hedge funds have recently modified their holdings of NTZ. Kanen Wealth Management LLC boosted its stake in shares of Natuzzi by 5.8% in the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after buying an additional 96,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Natuzzi in the first quarter worth about $1,817,000. Benjamin Edwards Inc. boosted its stake in shares of Natuzzi by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock worth $648,000 after buying an additional 38,350 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Natuzzi in the third quarter worth about $36,000. Hedge funds and other institutional investors own 6.07% of the company’s stock.

Natuzzi Company Profile

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.