Bridgford Foods (NASDAQ:BRID) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Bridgford Foods shares recently crossed above their 50-day moving average of $7.78, trading as high as $8.25 before settling at $8.00.
• Despite the price increase, Weiss Ratings maintains a "sell" rating on the stock, which reflects a consensus rating of "Sell" among analysts.
• A hedge fund, Nuveen LLC, recently acquired a new stake in Bridgford Foods, purchasing 70,834 shares valued at approximately $570,000.

Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report)'s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.78 and traded as high as $8.25. Bridgford Foods shares last traded at $8.00, with a volume of 800 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Bridgford Foods in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Bridgford Foods has a consensus rating of "Sell".

Bridgford Foods Trading Down 1.5%

The company's 50 day moving average price is $7.78 and its 200 day moving average price is $7.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.54 and a quick ratio of 1.48. The firm has a market cap of $72.64 million, a PE ratio of -10.00 and a beta of -0.21.

Bridgford Foods (NASDAQ:BRID - Get Free Report) last released its earnings results on Friday, August 22nd. The company reported ($0.18) earnings per share for the quarter. Bridgford Foods had a negative return on equity of 5.81% and a negative net margin of 3.19%.The firm had revenue of $51.95 million for the quarter.

Institutional Trading of Bridgford Foods

A hedge fund recently bought a new stake in Bridgford Foods stock. Nuveen LLC bought a new position in shares of Bridgford Foods Corporation (NASDAQ:BRID - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,834 shares of the company's stock, valued at approximately $570,000. Nuveen LLC owned 0.78% of Bridgford Foods as of its most recent filing with the Securities and Exchange Commission (SEC). 4.68% of the stock is currently owned by institutional investors.

Bridgford Foods Company Profile

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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