OneWater Marine (NASDAQ:ONEW) Stock Crosses Below 50-Day Moving Average – Should You Sell?

OneWater Marine Inc. (NASDAQ:ONEW) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $9.99 and traded as low as $9.85. OneWater Marine shares last traded at $9.90, with a volume of 70,163 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of OneWater Marine in a research note on Wednesday, November 4th. Truist Financial cut their price objective on shares of OneWater Marine from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, OneWater Marine presently has an average rating of “Hold” and a consensus price target of $13.00.

OneWater Marine Price Performance

The stock has a fifty day moving average price of $9.99 and a 200-day moving average price of $10.98. The firm has a market capitalization of $164.99 million, a PE ratio of -1.33 and a beta of 1.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.34 and a current ratio of 1.22.

Institutional Investors Weigh In On OneWater Marine

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in OneWater Marine in the third quarter valued at about $66,000. Russell Investments Group Ltd. raised its holdings in OneWater Marine by 18.5% in the third quarter. Russell Investments Group Ltd. now owns 125,671 shares of the company’s stock worth $1,198,000 after purchasing an additional 19,616 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of OneWater Marine during the third quarter valued at about $28,000. Empowered Funds LLC lifted its position in shares of OneWater Marine by 9.5% during the first quarter. Empowered Funds LLC now owns 52,126 shares of the company’s stock valued at $493,000 after buying an additional 4,501 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of OneWater Marine by 94.4% during the first quarter. Quantinno Capital Management LP now owns 50,338 shares of the company’s stock valued at $476,000 after buying an additional 24,442 shares during the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

About OneWater Marine

OneWater Marine Inc. (NASDAQ: ONEW) is a recreational boat retailer and marine services company. The company operates a network of dealerships in the United States that sells new and pre-owned boats, including freshwater, saltwater, and specialty vessels from a range of manufacturers and brands. In addition to boat sales, OneWater Marine provides related products and services such as marine parts and accessories, maintenance and repair, storage, financing, insurance, and other boating services. Its dealerships also support customers with boat brokerage, trade-ins, and after-sale service.