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

Shares of Natuzzi, S.p.A. (NYSE:NTZ) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.62 and traded as low as $1.22. Natuzzi shares last traded at $1.22, with a volume of 1,439 shares trading hands.

Natuzzi Price Performance

The firm’s 50-day moving average price is $1.89 and its 200 day moving average price is $2.62. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.89.

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

Hedge Funds Weigh In On Natuzzi

Several hedge funds and other institutional investors have recently made changes to their positions in NTZ. Kanen Wealth Management LLC increased its position in Natuzzi by 5.8% in the 1st quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock valued at $8,657,000 after acquiring an additional 96,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Natuzzi during the first quarter valued at $1,817,000. Benjamin Edwards Inc. raised its stake in shares of Natuzzi by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after purchasing an additional 38,350 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Natuzzi in the 3rd quarter valued at about $36,000. 6.07% of the stock is currently owned by institutional investors and hedge funds.

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.