Art’s-Way Manufacturing (NASDAQ:ARTW) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.46 and traded as low as $2.13. Art’s-Way Manufacturing shares last traded at $2.22, with a volume of 22,319 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Art’s-Way Manufacturing from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Art’s-Way Manufacturing has an average rating of “Sell”.

Art’s-Way Manufacturing Stock Performance

The business’s fifty day moving average is $2.47 and its two-hundred day moving average is $2.46. The company has a current ratio of 2.17, a quick ratio of 0.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $11.13 million, a PE ratio of -214.00 and a beta of 0.97.

Art’s-Way Manufacturing (NASDAQ:ARTW) last announced 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 return on equity of 0.16% and a negative net margin of 0.08%.The firm had revenue of $7.85 million for the quarter.

Hedge Funds Weigh In On Art’s-Way Manufacturing

Hedge funds have recently modified their holdings of the stock. DRW Securities LLC bought a new position in shares of Art’s-Way Manufacturing during the 4th quarter valued at about $150,000. Renaissance Technologies LLC lifted its position in shares of Art’s-Way Manufacturing by 94.3% in the fourth quarter. Renaissance Technologies LLC now owns 124,474 shares of the industrial products company’s stock worth $293,000 after buying an additional 60,400 shares in the last quarter. Citadel Advisors LLC bought a new position in Art’s-Way Manufacturing during the third quarter valued at approximately $108,000. Dimensional Fund Advisors LP boosted its stake in Art’s-Way Manufacturing by 142.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 40,780 shares of the industrial products company’s stock valued at $96,000 after buying an additional 23,983 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Art’s-Way Manufacturing during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 2.91% of the company’s stock.

About Art’s-Way Manufacturing

Art’s-Way Manufacturing Co, Inc (NASDAQ: ARTW) is a diversified industrial company that designs, manufactures and markets a range of agricultural and building products. The company’s agricultural equipment segment produces feed grinders, mixers, conveyors and related implements used in livestock and crop‐feeding operations. These products are engineered to streamline feed preparation and delivery for hog, beef and dairy producers across North America.

In its building products segment, Art’s-Way offers prefabricated steel structures, modular shelters and portable storage solutions suitable for agriculture, industrial and commercial applications.