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

Natuzzi, S.p.A. (NYSE:NTZ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.35 and traded as low as $2.90. Natuzzi shares last traded at $3.07, with a volume of 1,859 shares changing hands.

Natuzzi Trading Down 1.0%

The business’s 50-day moving average is $3.19 and its 200-day moving average is $3.35.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC lifted its position in Natuzzi by 1.6% during the second quarter. Kanen Wealth Management LLC now owns 1,791,446 shares of the company’s stock valued at $6,521,000 after purchasing an additional 28,310 shares during the period. Benjamin Edwards Inc. raised its position in shares of Natuzzi by 6.6% in the first quarter. Benjamin Edwards Inc. now owns 139,650 shares of the company’s stock worth $686,000 after acquiring an additional 8,600 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Natuzzi in the first quarter worth about $1,817,000. 6.07% of the stock is currently owned by institutional investors and hedge funds.

About Natuzzi

Natuzzi S.p.A. engages in the design, manufacture, and marketing of leather and fabric upholstered furniture through its own and franchised stores in the United States, Italy, China, Brazil, Spain, Mexico, Canada, Australia, Belgium, the United Arab Emirates, South Korea, Israel, Taiwan, the United Kingdom, and internationally.