Bridgford Foods (NASDAQ:BRID) Shares Pass Above 50-Day Moving Average - What's Next?
Bridgford Foods (NASDAQ:BRID) shares have surpassed their 50-day moving average of $7.76, trading as high as $7.81 before closing at $7.64. The company reported a quarterly EPS of ($0.43) with revenue of $50.64 million. Institutional investors hold 4.68% of the stock, with recent activity including new stakes from Renaissance Technologies and Northern Trust. Bridgford Foods specializes in frozen and snack food products in the U.S. Analysts currently rate the stock as a Hold, suggesting better investment opportunities elsewhere.
Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.76 and traded as high as $7.81. Bridgford Foods shares last traded at $7.64, with a volume of 2,713 shares traded.
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Bridgford Foods Price Performance
The stock has a fifty day moving average price of $7.76 and a 200 day moving average price of $8.53. The stock has a market capitalization of $69.33 million, a P/E ratio of -9.31 and a beta of -0.24.
Bridgford Foods (NASDAQ:BRID - Get Free Report) last posted its quarterly earnings results on Monday, June 2nd. The company reported ($0.43) EPS for the quarter. Bridgford Foods had a negative return on equity of 5.86% and a negative net margin of 3.29%. The company had revenue of $50.64 million during the quarter.
Institutional Investors Weigh In On Bridgford Foods
Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Bridgford Foods during the fourth quarter valued at $124,000. Northern Trust Corp boosted its stake in Bridgford Foods by 28.6% during the fourth quarter. Northern Trust Corp now owns 31,913 shares of the company's stock valued at $343,000 after buying an additional 7,093 shares during the period. Finally, Nuveen LLC bought a new stake in Bridgford Foods during the first quarter valued at $570,000. Institutional investors own 4.68% of the company's stock.
Bridgford Foods Company Profile
(Get Free Report)Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen and snack food products in the United States. It operates in two segments, Frozen Food Products and Snack Food Products. The company offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products, as well as ready to eat sandwiches and non-refrigerated snack food products.
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