Art’s-Way Manufacturing (NASDAQ:ARTW) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.49 and traded as low as $2.16. Art’s-Way Manufacturing shares last traded at $2.16, with a volume of 19,732 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Art’s-Way Manufacturing from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Art’s-Way Manufacturing has a consensus rating of “Sell”.

Art’s-Way Manufacturing Trading Up 1.4%

The firm has a market capitalization of $11.40 million, a P/E ratio of 11.00 and a beta of 0.77. The business’s 50 day moving average is $2.37 and its two-hundred day moving average is $2.48. The company has a quick ratio of 0.48, a current ratio of 2.30 and a debt-to-equity ratio of 0.21.

Art’s-Way Manufacturing (NASDAQ:ARTW) last announced its earnings results on Wednesday, February 4th. The industrial products company reported ($0.13) earnings per share for the quarter. The firm had revenue of $5.07 million for the quarter. Art’s-Way Manufacturing had a net margin of 4.50% and a negative return on equity of 0.90%.

Institutional Trading of Art’s-Way Manufacturing

A number of hedge funds have recently modified their holdings of ARTW. Susquehanna International Group LLP acquired a new stake in Art’s-Way Manufacturing in the third quarter valued at approximately $47,000. XTX Topco Ltd bought a new position in shares of Art’s-Way Manufacturing during the 4th quarter valued at $51,000. Dimensional Fund Advisors LP lifted its stake in shares of Art’s-Way Manufacturing by 142.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 40,780 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 23,983 shares during the last quarter. Citadel Advisors LLC bought a new stake in Art’s-Way Manufacturing in the third quarter worth $108,000. Finally, DRW Securities LLC bought a new stake in Art’s-Way Manufacturing in the fourth quarter worth $150,000. 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.