Bridgford Foods (NASDAQ:BRID) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Bridgford Foods Corporation (NASDAQ:BRID) shares crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $6.06 and traded as low as $5.34. Bridgford Foods shares last traded at $5.34, with a volume of 1,741 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bridgford Foods in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Bridgford Foods Price Performance

The firm has a market cap of $48.94 million, a PE ratio of -3.39 and a beta of -0.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.38 and a quick ratio of 0.96. The business’s fifty day moving average is $6.04 and its 200-day moving average is $6.80.

Bridgford Foods (NASDAQ:BRID) last posted its quarterly earnings results on Monday, August 24th. The company reported ($0.22) EPS for the quarter. Bridgford Foods had a negative return on equity of 12.97% and a negative net margin of 6.36%.The company had revenue of $47.02 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bridgford Foods stock. BlackRock Inc. purchased a new position in Bridgford Foods Corporation (NASDAQ:BRID) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,777 shares of the company’s stock, valued at approximately $31,000. BlackRock Inc. owned approximately 0.05% of Bridgford Foods at the end of the most recent quarter. Institutional investors own 4.68% of the company’s stock.

About Bridgford Foods

Bridgford Foods Corporation is a food manufacturer and distributor headquartered in Anaheim, California. Founded in 1932, the company develops, produces and sells branded frozen and refrigerated food products for retail, foodservice and other institutional customers.

Its product portfolio includes frozen bread dough, biscuits, rolls, pastries, appetizers and other bakery items, as well as refrigerated and frozen meat products. Bridgford also markets snack foods, including beef jerky and related meat snacks, under the Bridgford brand and other product labels.

The company distributes its products primarily throughout the United States through grocery retailers, foodservice distributors and institutional channels, with selected products also sold in international markets.