America’s Car-Mart (NASDAQ:CRMT) Share Price Crosses Above 50 Day Moving Average – What’s Next?

America’s Car-Mart, Inc. (NASDAQ:CRMT)’s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $1.42 and traded as high as $1.55. America’s Car-Mart shares last traded at $1.52, with a volume of 395,413 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRMT. Wall Street Zen upgraded shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings downgraded America’s Car-Mart from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.00.

America’s Car-Mart Trading Down 5.3%

The business has a fifty day moving average of $1.40 and a 200-day moving average of $8.72.

America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Wednesday, September 9th. The company reported ($6.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($5.98). The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $253.03 million. America’s Car-Mart had a negative net margin of 18.21% and a negative return on equity of 15.19%.

Institutional Trading of America’s Car-Mart

Hedge funds have recently modified their holdings of the business. North Reef Capital Management LP increased its stake in shares of America’s Car-Mart by 6.8% during the first quarter. North Reef Capital Management LP now owns 258,637 shares of the company’s stock valued at $3,292,000 after purchasing an additional 16,450 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of America’s Car-Mart during the second quarter valued at approximately $1,798,674. BlackRock Inc. bought a new stake in shares of America’s Car-Mart in the 2nd quarter worth approximately $708,000. Quantinno Capital Management LP boosted its position in shares of America’s Car-Mart by 41.4% in the 1st quarter. Quantinno Capital Management LP now owns 45,899 shares of the company’s stock worth $584,000 after purchasing an additional 13,434 shares in the last quarter. Finally, Massachusetts Institute of Technology bought a new stake in shares of America’s Car-Mart in the 2nd quarter worth approximately $467,000. Institutional investors own 89.10% of the company’s stock.

About America’s Car-Mart

America’s Car-Mart, Inc is a specialty automotive retailer that sells used vehicles and provides financing to consumers, including customers who may have limited or damaged credit histories. The company operates under a “buy here, pay here” business model, generally originating and servicing installment loans for vehicles purchased through its dealerships.

Its dealerships offer a selection of used cars, trucks and sport utility vehicles, with inventory typically acquired through auctions, trade-ins and other wholesale channels.