AMCON Distributing (NYSEAMERICAN:DIT) Shares Cross Below 200 Day Moving Average - Here's Why

AMCON Distributing Company (NYSEAMERICAN:DIT - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $112.85 and traded as low as $111.99. AMCON Distributing shares last traded at $113.00, with a volume of 619 shares trading hands.Get AMCON Distributing alerts:AMCON Distributing Price PerformanceThe firm has a market cap of $73.45 million, a P/E ratio of 52.31 and a beta of 0.43. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.74 and a quick ratio of 1.06. The firm's 50 day moving average is $116.46 and its 200 day moving average is $112.85. AMCON Distributing (NYSEAMERICAN:DIT - Get Free Report) last released its earnings results on Friday, November 7th. The company reported $0.80 earnings per share (EPS) for the quarter. AMCON Distributing had a net margin of 0.05% and a return on equity of 1.17%. The firm had revenue of $746.30 million during the quarter. Hedge Funds Weigh In On AMCON DistributingAn institutional investor recently raised its position in AMCON Distributing stock. CM Management LLC lifted its stake in AMCON Distributing Company (NYSEAMERICAN:DIT - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,754 shares of the company's stock after purchasing an additional 421 shares during the quarter. CM Management LLC owned 1.36% of AMCON Distributing worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 11.14% of the company's stock. About AMCON Distributing (Get Free Report)AMCON Distributing Company, together with its subsidiaries, engages in the wholesale distribution of consumer products in the Central, Rocky Mountain, and Mid-South regions of the United States. It operates through Wholesale Distribution and Retail Health Food segments. The Wholesale Distribution segment distributes consumer products, including cigarettes and tobacco products, candy and other confectionery, beverages, groceries, paper products, health and beauty care products, frozen and refrigerated products, and institutional foodservice products.See AlsoFive stocks we like better than AMCON Distributing3 Dividend Kings To ConsiderKeysight Technologies' Surge: The Market Wakes Up to This AI PlayConsumer Staples Stocks, ExplainedIs American Express the Credit Stock For a K-Shaped Economy?What is the Nasdaq? Complete Overview with HistoryPowering Up: How a Credit Upgrade Fuels Vistra’s AI AmbitionsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in AMCON Distributing Right Now?Before you consider AMCON Distributing, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AMCON Distributing wasn't on the list.While AMCON Distributing currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here