Barnes & Noble Education (NYSE:BNED) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Barnes & Noble Education, Inc (NYSE:BNED) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $8.59 and traded as low as $8.33. Barnes & Noble Education shares last traded at $8.3820, with a volume of 781,362 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Barnes & Noble Education in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Barnes & Noble Education Stock Performance

The stock’s 50-day moving average is $8.56 and its 200-day moving average is $8.75. The firm has a market capitalization of $290.56 million, a price-to-earnings ratio of -26.47 and a beta of 1.41. The company has a current ratio of 1.42, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48.

Barnes & Noble Education (NYSE:BNED) last issued its earnings results on Tuesday, March 10th. The specialty retailer reported $0.19 earnings per share for the quarter. The firm had revenue of $515.09 million for the quarter. Barnes & Noble Education had a negative net margin of 0.57% and a negative return on equity of 20.37%.

Institutional Investors Weigh In On Barnes & Noble Education

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Barnes & Noble Education by 261.1% in the 4th quarter. Royal Bank of Canada now owns 3,972 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 2,872 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Barnes & Noble Education during the second quarter valued at about $40,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Barnes & Noble Education by 205.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,326 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 2,910 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Barnes & Noble Education in the third quarter valued at approximately $57,000. Finally, Bank of America Corp DE increased its stake in shares of Barnes & Noble Education by 1,412.1% in the fourth quarter. Bank of America Corp DE now owns 6,139 shares of the specialty retailer’s stock valued at $62,000 after buying an additional 5,733 shares during the period. Institutional investors own 38.51% of the company’s stock.

About Barnes & Noble Education

Barnes & Noble Education, Inc (NYSE: BNED) is a leading provider of educational products and services to the higher education community. The company operates retail campus bookstores under Barnes & Noble College, offering course materials, general merchandise, and digital content. In addition, Barnes & Noble Education delivers educational technology solutions through its digital learning platform and supplemental courseware.

Originally part of Barnes & Noble, Inc, the company completed its spin-off and initial public offering in February 2015 to focus exclusively on college retail and digital learning.