Stein Mart, Inc. (NASDAQ:SMRT) shot up 19% during mid-day trading on Wednesday . The company traded as high as $0.95 and last traded at $0.94, 531,231 shares were traded during mid-day trading. An increase of 82% from the average session volume of 292,166 shares. The stock had previously closed at $0.79.
Separately, ValuEngine downgraded shares of Stein Mart from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.
The company has a quick ratio of 0.19, a current ratio of 1.18 and a debt-to-equity ratio of 10.68. The stock’s fifty day simple moving average is $0.81 and its 200-day simple moving average is $0.94.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Stein Mart in the first quarter worth about $29,000. Augustine Asset Management Inc. bought a new position in shares of Stein Mart in the second quarter valued at approximately $62,000. Vanguard Group Inc. boosted its position in shares of Stein Mart by 44.4% in the second quarter. Vanguard Group Inc. now owns 976,732 shares of the company’s stock valued at $840,000 after acquiring an additional 300,507 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in Stein Mart during the second quarter valued at approximately $70,000. 7.18% of the stock is owned by hedge funds and other institutional investors.
Stein Mart Company Profile (NASDAQ:SMRT)
Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home décor merchandise, accessories, and shoes at everyday discount prices in the Unites States. The company's stores also provide merchandise locator services; a preferred customer program; co-branded and private label credit card programs; and electronic gift cards.
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