Fred’s, Inc. (NASDAQ:FRED) shares dropped 0.4% on Thursday . The company traded as low as $0.31 and last traded at $0.31, approximately 900 shares changed hands during mid-day trading. A decline of 100% from the average daily volume of 243,311 shares. The stock had previously closed at $0.31.
Separately, ValuEngine upgraded shares of Fred’s from a “hold” rating to a “buy” rating in a report on Friday, June 7th.
The stock’s fifty day moving average is $0.38 and its 200 day moving average is $1.36. The company has a current ratio of 1.11, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.
Fred’s (NASDAQ:FRED) last posted its quarterly earnings results on Wednesday, June 19th. The company reported ($0.83) EPS for the quarter. Fred’s had a negative net margin of 1.84% and a negative return on equity of 122.40%. The firm had revenue of $318.95 million for the quarter.
An institutional investor recently bought a new position in Fred’s stock. GSA Capital Partners LLP acquired a new stake in shares of Fred’s, Inc. (NASDAQ:FRED) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 192,180 shares of the company’s stock, valued at approximately $94,000. GSA Capital Partners LLP owned 0.55% of Fred’s at the end of the most recent quarter. 60.81% of the stock is owned by hedge funds and other institutional investors.
About Fred’s (NASDAQ:FRED)
Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers health, beauty, and personal care products; household cleaning supplies, disposable diapers, pet foods, and paper products; and various general merchandise, and food and beverage products to low, middle, and fixed income families located in small- to medium-sized towns.
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