Bridgford Foods (NASDAQ:BRID) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Bridgford Foods shares recently broke above their 50-day moving average of $7.76, reaching a high of $7.81 during trading.
• The company reported a quarterly earnings loss, with an EPS of ($0.43) and a negative net margin of 3.29% on revenues of $50.64 million.
• Institutional investors collectively own 4.68% of Bridgford Foods, with recent investments from firms like Renaissance Technologies and Northern Trust Corp.

Shares of Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.76 and traded as high as $7.81. Bridgford Foods shares last traded at $7.64, with a volume of 2,713 shares.

Bridgford Foods Price Performance

The stock has a market capitalization of $69.92 million, a PE ratio of -9.39 and a beta of -0.24. The firm's 50 day simple moving average is $7.74 and its 200 day simple moving average is $8.45.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Northern Trust Corp raised its stake in shares of 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 acquiring an additional 7,093 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Bridgford Foods in the fourth quarter worth approximately $124,000. Finally, Nuveen LLC bought a new position in shares of Bridgford Foods in the first quarter worth approximately $570,000. 4.68% of the stock is owned by hedge funds and other 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.