Art’s-Way Manufacturing (NASDAQ:ARTW) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.58 and traded as high as $3.29. Art’s-Way Manufacturing shares last traded at $3.21, with a volume of 34,303 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Art’s-Way Manufacturing from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Art’s-Way Manufacturing Stock Up 7.7%

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.17 and a quick ratio of 0.61. The firm’s 50 day moving average is $2.69 and its two-hundred day moving average is $2.58. The firm has a market capitalization of $16.69 million, a P/E ratio of -321.00 and a beta of 1.02.

Art’s-Way Manufacturing (NASDAQ:ARTW) last posted its quarterly earnings results on Wednesday, July 15th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter. Art’s-Way Manufacturing had a negative net margin of 0.08% and a negative return on equity of 0.16%. The firm had revenue of $7.85 million for the quarter.

Hedge Funds Weigh In On Art’s-Way Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Art’s-Way Manufacturing by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock valued at $93,000 after buying an additional 3,899 shares during the last quarter. Susquehanna International Group LLP raised its stake in Art’s-Way Manufacturing by 69.7% in the 2nd quarter. Susquehanna International Group LLP now owns 19,664 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 8,079 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Art’s-Way Manufacturing by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock valued at $296,000 after acquiring an additional 17,000 shares during the period. Institutional investors own 2.91% of the company’s stock.

About Art’s-Way Manufacturing

Art’s-Way Manufacturing Co, Inc is an Iowa-based manufacturer of agricultural equipment and related products. The company designs and produces machinery used in forage harvesting, manure handling, land maintenance and crop preparation, serving farmers, agricultural contractors and other customers in the farming industry.

Its product portfolio has included forage harvesters, forage boxes, manure spreaders, rotary cutters, hay equipment, tillage and planting equipment, and specialized machinery for certain crop applications.