Natuzzi, S.p.A. (NYSE:NTZ) Sees Significant Increase in Short Interest

Natuzzi, S.p.A. (NYSE:NTZ) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 5,972 shares, an increase of 1,001.8% from the June 30th total of 542 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 4,840 shares, the days-to-cover ratio is presently 1.2 days.

Natuzzi Stock Performance

Shares of NYSE:NTZ traded down $0.04 during trading on Friday, reaching $1.40. The stock had a trading volume of 867 shares, compared to its average volume of 3,678. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.50 and a current ratio of 0.85. The business has a fifty day moving average price of $2.03 and a 200-day moving average price of $2.67. Natuzzi has a 1-year low of $1.30 and a 1-year high of $4.06.

Natuzzi (NYSE:NTZ) last issued its quarterly earnings results on Friday, May 15th. The company reported ($1.55) EPS for the quarter. Natuzzi had a negative return on equity of 76.40% and a negative net margin of 9.71%.The firm had revenue of $90.93 million for the quarter.

Institutional Investors Weigh In On Natuzzi

Hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in Natuzzi during the third quarter worth about $36,000. Benjamin Edwards Inc. raised its holdings in Natuzzi by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after acquiring an additional 38,350 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Natuzzi in the 1st quarter valued at about $1,817,000. Finally, Kanen Wealth Management LLC lifted its stake in Natuzzi by 2.8% in the 1st quarter. Kanen Wealth Management LLC now owns 2,222,276 shares of the company’s stock worth $6,778,000 after purchasing an additional 60,140 shares in the last quarter. 6.07% of the stock is currently owned by institutional investors and hedge funds.

About Natuzzi

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.