Natuzzi (NYSE:NTZ) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Natuzzi S.p.A. (NYSE:NTZ) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.50 and traded as low as $3.27. Natuzzi shares last traded at $3.35, with a volume of 6,173 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Natuzzi in a research report on Wednesday. They issued a “hold” rating for the company.

Natuzzi Price Performance

The business has a 50-day moving average price of $4.22 and a 200-day moving average price of $4.50.

Institutional Investors Weigh In On Natuzzi

A number of large investors have recently made changes to their positions in NTZ. Benjamin Edwards Inc. grew its position in shares of Natuzzi by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 131,050 shares of the company’s stock valued at $629,000 after purchasing an additional 5,988 shares in the last quarter. Kanen Wealth Management LLC grew its position in Natuzzi by 5.8% in the first quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after acquiring an additional 96,890 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Natuzzi in the first quarter worth approximately $1,817,000. 6.07% of the stock is currently owned by hedge funds and other institutional investors.

Natuzzi Company Profile

Natuzzi S.p.A. engages in the design, manufacture, and marketing of leather and fabric upholstered furniture through its own and franchised stores in the United States, Italy, China, Brazil, Spain, Mexico, Canada, Australia, Belgium, the United Arab Emirates, South Korea, Israel, Taiwan, the United Kingdom, and internationally.