Natuzzi (NYSE:NTZ) Shares Pass Below 200-Day Moving Average – What’s Next?

Natuzzi, S.p.A. (NYSE:NTZ) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.90 and traded as low as $2.87. Natuzzi shares last traded at $2.9260, with a volume of 560 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Natuzzi in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Natuzzi Price Performance

The firm has a 50-day simple moving average of $2.75 and a 200-day simple moving average of $2.90.

Natuzzi (NYSE:NTZ) last issued its quarterly earnings data on Thursday, November 20th. The company reported ($0.64) earnings per share (EPS) for the quarter. Natuzzi had a negative net margin of 6.12% and a negative return on equity of 38.57%. The business had revenue of $92.29 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in Natuzzi during the third quarter valued at about $36,000. Benjamin Edwards Inc. increased its position in 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 acquiring an additional 38,350 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Natuzzi in the 1st quarter worth about $1,817,000. Finally, Kanen Wealth Management LLC raised 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 worth $8,657,000 after purchasing an additional 96,890 shares during the period. Hedge funds and other institutional investors own 6.07% of the company’s stock.

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.