OneWater Marine (NASDAQ:ONEW) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• OneWater Marine shares moved above their 50-day moving average, reaching $10.61 before closing at $10.31, compared with a 50-day average of $10.22.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $13.00 average price target, while Truist lowered its target to $12.00 but maintained a Buy rating.
• Institutional investors own 94.32% of the shares, although the company shows financial risk indicators including negative earnings, a 1.14 debt-to-equity ratio, and a 200-day moving average of $11.10.

OneWater Marine Inc. (NASDAQ:ONEW - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $10.22 and traded as high as $10.61. OneWater Marine shares last traded at $10.31, with a volume of 162,738 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ONEW. Truist Financial cut their price target on shares of OneWater Marine from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, October 23rd. Weiss Ratings raised shares of OneWater Marine from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.00.

OneWater Marine Price Performance

The business has a 50-day moving average price of $10.22 and a 200 day moving average price of $11.10. The company has a market cap of $171.87 million, a price-to-earnings ratio of -1.38 and a beta of 1.60. The company has a current ratio of 1.22, a quick ratio of 0.34 and a debt-to-equity ratio of 1.14.

Institutional Investors Weigh In On OneWater Marine

A number of institutional investors and hedge funds have recently modified their holdings of ONEW. Fortitude Family Office LLC acquired a new position in shares of OneWater Marine in the 3rd quarter valued at $28,000. Empowered Funds LLC raised its holdings in OneWater Marine by 9.5% during the 1st quarter. Empowered Funds LLC now owns 52,126 shares of the company's stock worth $493,000 after buying an additional 4,501 shares during the period. Quantinno Capital Management LP raised its holdings in OneWater Marine by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 50,338 shares of the company's stock worth $476,000 after buying an additional 24,442 shares during the period. Sei Investments Co. raised its holdings in OneWater Marine by 83.8% during the 1st quarter. Sei Investments Co. now owns 26,978 shares of the company's stock worth $255,000 after buying an additional 12,300 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in OneWater Marine by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 514,606 shares of the company's stock valued at $4,863,000 after buying an additional 30,280 shares in the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

OneWater Marine Company Profile

OneWater Marine Inc NASDAQ: ONEW is a recreational boat retailer and marine services company. The company operates a network of dealerships in the United States that sells new and pre-owned boats, including freshwater, saltwater, and specialty vessels from a range of manufacturers and brands.

In addition to boat sales, OneWater Marine provides related products and services such as marine parts and accessories, maintenance and repair, storage, financing, insurance, and other boating services.

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