Art’s-Way Manufacturing (NASDAQ:ARTW) Shares Cross Above 50-Day Moving Average – Here’s Why

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.66 and traded as high as $2.73. Art’s-Way Manufacturing shares last traded at $2.62, with a volume of 17,380 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Art’s-Way Manufacturing from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Art’s-Way Manufacturing Stock Performance

The firm has a fifty day moving average of $2.68 and a 200-day moving average of $2.45. The company has a quick ratio of 0.58, a current ratio of 2.02 and a debt-to-equity ratio of 0.19. The firm has a market cap of $13.68 million, a P/E ratio of 10.56 and a beta of 0.96.

Art’s-Way Manufacturing (NASDAQ:ARTW) last announced its quarterly earnings data on Monday, April 13th. The industrial products company reported $0.04 earnings per share for the quarter. The firm had revenue of $6.64 million during the quarter. Art’s-Way Manufacturing had a return on equity of 0.98% and a net margin of 5.26%.

Hedge Funds Weigh In On Art’s-Way Manufacturing

Several large investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new stake in Art’s-Way Manufacturing during the 3rd quarter worth $47,000. XTX Topco Ltd acquired a new position in shares of Art’s-Way Manufacturing in the 4th quarter valued at $51,000. Dimensional Fund Advisors LP boosted its position in shares of Art’s-Way Manufacturing by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 3,899 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Art’s-Way Manufacturing in the 3rd quarter worth $108,000. Finally, DRW Securities LLC acquired a new stake in shares of Art’s-Way Manufacturing during the fourth quarter worth $150,000. 2.91% of the stock is currently owned by institutional investors and hedge funds.

Art’s-Way Manufacturing Company Profile

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.