Hennessy Advisors (NASDAQ:HNNA) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Hennessy Advisors, Inc. (NASDAQ:HNNA)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.84 and traded as low as $9.70. Hennessy Advisors shares last traded at $9.95, with a volume of 3,157 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Hennessy Advisors Stock Up 1.7%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 12.72 and a current ratio of 12.73. The stock’s fifty day simple moving average is $9.84 and its two-hundred day simple moving average is $10.86. The stock has a market capitalization of $78.53 million, a P/E ratio of 7.90 and a beta of 0.64.

Hennessy Advisors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were paid a $0.1375 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.55 annualized dividend and a dividend yield of 5.5%. Hennessy Advisors’s payout ratio is currently 43.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HNNA. Evergreen Capital Management LLC bought a new stake in shares of Hennessy Advisors in the 2nd quarter valued at about $190,000. Bridgeway Capital Management LLC boosted its holdings in Hennessy Advisors by 8.5% in the third quarter. Bridgeway Capital Management LLC now owns 18,514 shares of the asset manager’s stock valued at $195,000 after acquiring an additional 1,454 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors during the 3rd quarter valued at approximately $218,000. Susquehanna International Group LLP increased its position in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 13,819 shares during the period. Finally, Truffle Hound Capital LLC bought a new position in Hennessy Advisors during the 2nd quarter worth approximately $556,000. 10.31% of the stock is owned by institutional investors and hedge funds.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.