Bridgford Foods (NASDAQ:BRID) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Bridgford Foods Corporation (NASDAQ:BRID)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.81 and traded as low as $7.60. Bridgford Foods shares last traded at $7.5650, with a volume of 140 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bridgford Foods in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Bridgford Foods Trading Down 0.3%

The firm has a 50 day moving average of $7.89 and a 200 day moving average of $7.81. The firm has a market cap of $68.67 million, a PE ratio of -9.46 and a beta of -0.21. The company has a quick ratio of 1.48, a current ratio of 3.54 and a debt-to-equity ratio of 0.01.

Bridgford Foods (NASDAQ:BRID) last issued its earnings results on Friday, August 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $51.95 million during the quarter. Bridgford Foods had a negative net margin of 3.19% and a negative return on equity of 5.81%.

Hedge Funds Weigh In On Bridgford Foods

An institutional investor recently bought a new position in Bridgford Foods stock. Nuveen LLC purchased a new stake in Bridgford Foods Corporation (NASDAQ:BRID) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 70,834 shares of the company’s stock, valued at approximately $570,000. Nuveen LLC owned 0.78% of Bridgford Foods as of its most recent SEC filing. Institutional investors own 4.68% of the company’s stock.

Bridgford Foods Company Profile

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.