Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.26 and traded as high as $11.95. Hooker Furnishings shares last traded at $11.18, with a volume of 49,319 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Hooker Furnishings from a "hold" rating to a "sell" rating in a report on Sunday, April 20th.

Hooker Furnishings Trading Down 3.0%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 3.94. The company's fifty day simple moving average is $10.15 and its 200-day simple moving average is $11.26. The company has a market capitalization of $119.66 million, a P/E ratio of -10.26, a PEG ratio of 6.33 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.13). The firm had revenue of $85.32 million during the quarter, compared to the consensus estimate of $88.87 million. Hooker Furnishings had a negative net margin of 2.95% and a negative return on equity of 3.41%. Research analysts predict that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.23%. Hooker Furnishings's payout ratio is -84.40%.

Institutional Investors Weigh In On Hooker Furnishings

A number of institutional investors have recently added to or reduced their stakes in HOFT. Tower Research Capital LLC TRC boosted its stake in Hooker Furnishings by 225.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock worth $43,000 after purchasing an additional 2,130 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Hooker Furnishings by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after acquiring an additional 1,356 shares during the last quarter. Strs Ohio acquired a new position in shares of Hooker Furnishings during the 1st quarter valued at about $124,000. Jane Street Group LLC acquired a new position in shares of Hooker Furnishings during the 1st quarter valued at about $146,000. Finally, Deutsche Bank AG boosted its position in shares of Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after acquiring an additional 7,157 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company's stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.