Hennessy Advisors (NASDAQ:HNNA) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Hennessy Advisors, Inc. (NASDAQ:HNNA) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.65 and traded as low as $10.34. Hennessy Advisors shares last traded at $10.38, with a volume of 28,454 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Hennessy Advisors in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hennessy Advisors Stock Down 1.7%

The business has a 50 day moving average of $9.94 and a two-hundred day moving average of $10.65. The stock has a market capitalization of $81.90 million, a PE ratio of 8.24 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 12.72 and a current ratio of 12.73.

Hedge Funds Weigh In On Hennessy Advisors

A number of large investors have recently made changes to their positions in HNNA. Truffle Hound Capital LLC boosted its position in shares of Hennessy Advisors by 241.8% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after purchasing an additional 106,726 shares in the last quarter. Navellier & Associates Inc. increased its holdings in shares of Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after acquiring an additional 30,889 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Hennessy Advisors during the third quarter valued at about $218,000. Evergreen Capital Management LLC purchased a new position in shares of Hennessy Advisors in the 2nd quarter valued at approximately $190,000. Finally, Susquehanna International Group LLP boosted its stake in Hennessy Advisors by 108.5% in the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after purchasing an additional 13,819 shares in the last quarter. 10.31% of the stock is owned by institutional investors and hedge funds.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.