Natuzzi (NYSE:NTZ) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Natuzzi, S.p.A. (NYSE:NTZ) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.04 and traded as high as $3.04. Natuzzi shares last traded at $2.86, with a volume of 2,895 shares trading hands.

Analyst Upgrades and Downgrades

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

Natuzzi Stock Performance

The firm’s 50-day simple moving average is $3.04 and its 200 day simple moving average is $2.89.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new position in Natuzzi during the third quarter valued at approximately $36,000. Benjamin Edwards Inc. raised its position in Natuzzi by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after purchasing an additional 38,350 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Natuzzi during the first quarter valued at approximately $1,817,000. Finally, Kanen Wealth Management LLC increased its holdings in shares of Natuzzi by 5.8% during 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 in the last quarter. 6.07% of the stock is currently owned by institutional investors and hedge funds.

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.