Art’s-Way Manufacturing (NASDAQ:ARTW) Shares Cross Below 200-Day Moving Average – Here’s Why

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.49 and traded as low as $2.16. Art’s-Way Manufacturing shares last traded at $2.16, with a volume of 19,732 shares traded.

Wall Street Analyst Weigh In

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 research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Art’s-Way Manufacturing Price Performance

The company’s 50-day moving average price is $2.38 and its two-hundred day moving average price is $2.49. 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 company has a market capitalization of $11.19 million, a P/E ratio of 10.80 and a beta of 0.77.

Art’s-Way Manufacturing (NASDAQ:ARTW) last announced its 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 for the quarter. Art’s-Way Manufacturing had a negative return on equity of 0.90% and a net margin of 4.50%.

Institutional Trading of Art’s-Way Manufacturing

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

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.