America’s Car-Mart (NASDAQ:CRMT) Shares Cross Above 50 Day Moving Average – Here’s What Happened

America’s Car-Mart, Inc. (NASDAQ:CRMT)’s share price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $1.42 and traded as high as $1.55. America’s Car-Mart shares last traded at $1.52, with a volume of 395,413 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of America’s Car-Mart from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wall Street Zen upgraded shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $14.00.

America’s Car-Mart Trading Up 20.6%

The firm has a market capitalization of $12.68 million, a P/E ratio of -0.06 and a beta of 1.33. The firm has a 50-day moving average of $1.42 and a two-hundred day moving average of $8.85.

America’s Car-Mart (NASDAQ:CRMT) last released its earnings results on Wednesday, September 9th. The company reported ($6.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($5.98). The business had revenue of $89.90 million during the quarter, compared to the consensus estimate of $253.03 million. America’s Car-Mart had a negative net margin of 18.21% and a negative return on equity of 15.19%.

Institutional Investors Weigh In On America’s Car-Mart

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in America’s Car-Mart in the second quarter valued at approximately $29,000. Engineers Gate Manager LP grew its stake in shares of America’s Car-Mart by 41.5% during the second quarter. Engineers Gate Manager LP now owns 15,268 shares of the company’s stock worth $43,000 after buying an additional 4,475 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of America’s Car-Mart during the second quarter worth $135,000. Hsbc Holdings PLC grew its stake in shares of America’s Car-Mart by 734.9% during the second quarter. Hsbc Holdings PLC now owns 105,794 shares of the company’s stock worth $295,000 after buying an additional 93,122 shares during the last quarter. Finally, Massachusetts Institute of Technology acquired a new position in shares of America’s Car-Mart during the second quarter worth $467,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc is a specialty automotive retailer that sells used vehicles and provides financing to consumers, including customers who may have limited or damaged credit histories. The company operates under a “buy here, pay here” business model, generally originating and servicing installment loans for vehicles purchased through its dealerships.

Its dealerships offer a selection of used cars, trucks and sport utility vehicles, with inventory typically acquired through auctions, trade-ins and other wholesale channels.