Bridgford Foods (NASDAQ:BRID) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• Bridgford Foods Corporation (NASDAQ:BRID) shares have crossed above their fifty day moving average of $7.80, trading at a high of $7.90 and last recorded at $7.71.
• The company reported a loss of $0.43 per share for the last quarter, with a negative return on equity of 5.86% and a net margin of 3.29%, despite generating revenue of $50.64 million.
• Recent hedge fund activity shows growing interest in Bridgford Foods, with substantial investments from firms like Renaissance Technologies and Northern Trust Corp during the fourth quarter.

Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.80 and traded as high as $7.90. Bridgford Foods shares last traded at $7.71, with a volume of 416 shares changing hands.

Bridgford Foods Stock Down 0.6%

The business has a 50 day moving average of $7.80 and a 200 day moving average of $8.65. The firm has a market cap of $70.01 million, a price-to-earnings ratio of -9.40 and a beta of -0.24.

Bridgford Foods (NASDAQ:BRID - Get Free Report) last released its earnings results on Monday, June 2nd. The company reported ($0.43) earnings per share for the quarter. Bridgford Foods had a negative return on equity of 5.86% and a negative net margin of 3.29%. The business had revenue of $50.64 million for the quarter.

Hedge Funds Weigh In On Bridgford Foods

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in Bridgford Foods during the fourth quarter worth about $124,000. Northern Trust Corp lifted its position in Bridgford Foods by 28.6% during the fourth quarter. Northern Trust Corp now owns 31,913 shares of the company's stock worth $343,000 after buying an additional 7,093 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Bridgford Foods in the 1st quarter worth about $570,000. 4.68% of the stock is currently owned by hedge funds and other 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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