Bridgford Foods (NASDAQ:BRID) Share Price Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Bridgford Foods shares fell 4.5%, trading as low as $5.34 and dropping below the 50-day moving average of $6.06; the 200-day average is $6.81.
• Analysts remain bearish: Weiss Ratings reaffirmed a “sell (e+)” rating, and MarketBeat reports the stock’s average rating as “Sell.”
• The company reported a quarterly loss of $0.22 per share on $47.02 million in revenue, alongside a negative net margin and return on equity. Institutional ownership remains limited at 4.68%, though Susquehanna recently purchased 10,442 shares.

Shares of Bridgford Foods Corporation (NASDAQ:BRID - Get Free Report) crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $6.06 and traded as low as $5.34. Bridgford Foods shares last traded at $5.34, with a volume of 1,741 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Bridgford Foods in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Bridgford Foods Trading Down 4.5%

The business's 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $6.81. The firm has a market capitalization of $48.49 million, a price-to-earnings ratio of -3.36 and a beta of -0.17. The company has a quick ratio of 0.96, a current ratio of 2.38 and a debt-to-equity ratio of 0.01.

Bridgford Foods (NASDAQ:BRID - Get Free Report) last posted its quarterly earnings data on Monday, August 24th. The company reported ($0.22) earnings per share for the quarter. Bridgford Foods had a negative return on equity of 12.97% and a negative net margin of 6.36%.The company had revenue of $47.02 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bridgford Foods stock. Susquehanna International Group LLP acquired a new stake in Bridgford Foods Corporation (NASDAQ:BRID - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,442 shares of the company's stock, valued at approximately $68,000. Susquehanna International Group LLP owned approximately 0.11% of Bridgford Foods at the end of the most recent quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

About Bridgford Foods

Bridgford Foods Corporation is a food manufacturer and distributor based in Anaheim, California. The company produces and sells refrigerated, frozen and shelf-stable food products for retail, convenience-store and foodservice channels.

Its product portfolio includes ready-to-eat and heat-and-serve sandwiches, biscuits, bread dough, rolls, appetizers, entrees and other frozen foods. Bridgford also offers meat snacks and related products, including beef jerky and snack-size meat items, marketed under the Bridgford brand and other product labels.

Bridgford Foods was founded in 1932 and serves customers primarily in the United States through supermarkets, convenience stores, club stores, vending and foodservice distributors.

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