PhenixFIN (NYSE:PFX) Stock Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• PhenixFIN's stock price fell below its 50-day moving average on Monday, trading as low as $47.95 before closing at $48.37.
• A hedge fund increased its stake in PhenixFIN by 55.4%, now owning 847 shares valued at $43,000 as of the last quarter.
• PhenixFIN has a market capitalization of $96.94 million and a P/E ratio of 5.94, indicating potentially undervalued stock.

Shares of PhenixFIN Co. (NYSE:PFX - Get Free Report) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $49.19 and traded as low as $47.95. PhenixFIN shares last traded at $48.37, with a volume of 1,640 shares traded.

PhenixFIN Price Performance

The company has a market capitalization of $96.59 million, a P/E ratio of 5.91 and a beta of 0.31. The business's 50-day simple moving average is $49.07 and its 200 day simple moving average is $50.18. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On PhenixFIN

A hedge fund recently raised its stake in PhenixFIN stock. Adalta Capital Management LLC lifted its holdings in PhenixFIN Co. (NYSE:PFX - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,449 shares of the company's stock after purchasing an additional 12,925 shares during the period. PhenixFIN comprises 4.8% of Adalta Capital Management LLC's holdings, making the stock its 6th biggest holding. Adalta Capital Management LLC owned about 8.34% of PhenixFIN worth $8,931,000 as of its most recent SEC filing. Institutional investors own 43.35% of the company's stock.

About PhenixFIN

PhenixFIN Corporation is a business development company. The firm seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.