Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.27 and traded as low as $14.22. Bassett Furniture Industries shares last traded at $14.56, with a volume of 29,901 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Monday, April 20th. Wall Street Zen downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. Finally, Zacks Research raised Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Bassett Furniture Industries Stock Up 1.1%

The company has a market cap of $129.92 million, a PE ratio of 24.23, a P/E/G ratio of 1.13 and a beta of 0.77. The stock has a 50-day moving average of $14.45 and a 200-day moving average of $15.27.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, April 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Bassett Furniture Industries had a net margin of 1.61% and a return on equity of 3.48%. The firm had revenue of $80.34 million during the quarter, compared to the consensus estimate of $84.38 million. Research analysts expect that Bassett Furniture Industries, Incorporated will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds have recently bought and sold shares of the business. Empowered Funds LLC raised its holdings in Bassett Furniture Industries by 9.2% in the first quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock worth $595,000 after buying an additional 3,532 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Bassett Furniture Industries by 4.0% in the first quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after buying an additional 11,700 shares during the last quarter. Aegis Financial Corp raised its holdings in Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after buying an additional 25,878 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Bassett Furniture Industries in the fourth quarter worth about $465,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in Bassett Furniture Industries in the fourth quarter worth about $46,000. Institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.