Natuzzi, S.p.A. (NYSE:NTZ) Sees Large Drop in Short Interest

Natuzzi, S.p.A. (NYSE:NTZ) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 542 shares, a drop of 61.4% from the June 15th total of 1,405 shares. Based on an average trading volume of 295 shares, the short-interest ratio is currently 1.8 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NTZ. Citadel Advisors LLC bought a new position in Natuzzi in the 3rd quarter valued at about $36,000. Benjamin Edwards Inc. increased its holdings in Natuzzi by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock worth $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 bought a new stake in Natuzzi during the 1st quarter worth approximately $1,817,000. Finally, Kanen Wealth Management LLC raised its stake in shares of Natuzzi by 2.8% in the first quarter. Kanen Wealth Management LLC now owns 2,222,276 shares of the company’s stock worth $6,778,000 after purchasing an additional 60,140 shares during the last quarter. 6.07% of the stock is owned by institutional investors.

Natuzzi Stock Up 4.5%

NTZ stock traded up $0.07 during trading on Tuesday, reaching $1.64. 5,650 shares of the stock were exchanged, compared to its average volume of 6,186. The firm’s 50 day moving average is $2.27 and its 200 day moving average is $2.73. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.89. Natuzzi has a twelve month low of $1.50 and a twelve month high of $4.06.

Natuzzi (NYSE:NTZ) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.55) EPS for the quarter. Natuzzi had a negative net margin of 9.71% and a negative return on equity of 76.40%. The firm had revenue of $90.93 million during the quarter.

About Natuzzi

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.