Smith-Midland (NASDAQ:SMID) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

Smith-Midland Corp. (NASDAQ:SMID) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $23.45 and traded as low as $18.88. Smith-Midland shares last traded at $21.51, with a volume of 113,421 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Smith-Midland from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Smith-Midland Trading Down 17.8%

The company has a quick ratio of 3.31, a current ratio of 4.06 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $23.45 and its two-hundred day moving average is $29.30. The firm has a market cap of $114.00 million, a P/E ratio of 14.83 and a beta of 1.51.

Smith-Midland (NASDAQ:SMID) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.26 EPS for the quarter. Smith-Midland had a net margin of 8.59% and a return on equity of 14.06%. The business had revenue of $23.36 million during the quarter.

Hedge Funds Weigh In On Smith-Midland

Several hedge funds and other institutional investors have recently modified their holdings of SMID. BlackRock Inc. purchased a new position in shares of Smith-Midland during the second quarter valued at about $5,697,000. Bard Associates Inc. purchased a new stake in Smith-Midland in the second quarter worth about $2,316,000. Rice Hall James & Associates LLC purchased a new stake in Smith-Midland in the second quarter worth about $1,565,000. Dimensional Fund Advisors LP boosted its position in Smith-Midland by 10.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 44,729 shares of the company’s stock valued at $1,455,000 after acquiring an additional 4,384 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Smith-Midland by 2,326.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 22,642 shares of the company’s stock valued at $516,000 after acquiring an additional 21,709 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Smith-Midland Company Profile

Smith-Midland Corporation is a precast concrete manufacturer and construction products company headquartered in Midland, Virginia. The company develops, manufactures and markets precast concrete systems for the commercial, industrial, transportation, utility and residential construction markets. Its products include modular precast concrete buildings, utility and storage structures, highway and traffic barriers, sound walls, architectural panels, retaining walls and other customized precast components.