Bridgford Foods (NASDAQ:BRID) Stock Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Bridgford Foods Corp's share price fell below its 200-day moving average of $8.41, trading as low as $7.53 before closing at $7.66.
• The company reported a negative earnings per share (EPS) of ($0.18) for its last quarter, along with a negative return on equity of 5.86% and a net margin of 3.29%.
• Institutional investors have increased their positions in Bridgford Foods, with notable investments from Northern Trust Corp and Nuveen LLC in the past quarter.

Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.41 and traded as low as $7.53. Bridgford Foods shares last traded at $7.66, with a volume of 295 shares changing hands.

Bridgford Foods Stock Performance

The stock has a 50 day moving average of $7.72 and a 200-day moving average of $8.37. The firm has a market capitalization of $67.42 million, a P/E ratio of -9.28 and a beta of -0.24.

Bridgford Foods (NASDAQ:BRID - Get Free Report) last announced its quarterly earnings results on Friday, August 22nd. The company reported ($0.18) earnings per share for the quarter. Bridgford Foods had a negative net margin of 3.19% and a negative return on equity of 5.76%. The company had revenue of $51.95 million for the quarter.

Institutional Investors Weigh In On Bridgford Foods

Several hedge funds and other institutional investors have recently modified their holdings of BRID. Nuveen LLC bought a new stake in shares of Bridgford Foods during the first quarter valued at about $570,000. Renaissance Technologies LLC purchased a new stake in Bridgford Foods in the fourth quarter valued at approximately $124,000. Finally, 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 valued at $343,000 after purchasing an additional 7,093 shares during the last quarter. 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.