Bridgford Foods (NASDAQ:BRID) Share Price Crosses Below 200-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) 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 traded.

Bridgford Foods Price Performance

The business's fifty day moving average is $7.71 and its 200 day moving average is $8.36. The company has a current ratio of 3.54, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $69.86 million, a P/E ratio of -9.62 and a beta of -0.24.

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

Institutional Trading of Bridgford Foods

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in Bridgford Foods during the 4th quarter valued at $124,000. Northern Trust Corp raised its stake in Bridgford Foods by 28.6% during the 4th 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. Finally, Nuveen LLC acquired a new position in Bridgford Foods during the 1st quarter valued at $570,000. 4.68% of the stock is owned by institutional investors.

About Bridgford Foods

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.