Natuzzi (NYSE:NTZ) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Natuzzi, S.p.A. (NYSE:NTZ)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.92 and traded as low as $2.82. Natuzzi shares last traded at $3.05, with a volume of 739 shares changing hands.

Analyst Ratings Changes

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

Natuzzi Price Performance

The company has a 50-day simple moving average of $3.05 and a two-hundred day simple moving average of $2.92.

Institutional Investors Weigh In On Natuzzi

Several institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in shares of Natuzzi during the third quarter valued at approximately $36,000. Benjamin Edwards Inc. boosted its holdings in Natuzzi by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after acquiring an additional 38,350 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Natuzzi during the 1st quarter valued at $1,817,000. Finally, Kanen Wealth Management LLC increased its position in Natuzzi by 5.8% during the 1st quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock valued at $8,657,000 after purchasing an additional 96,890 shares during the period. 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.