Icahn Enterprises (NASDAQ:IEP) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.21 and traded as low as $7.98. Icahn Enterprises shares last traded at $8.09, with a volume of 467,334 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IEP. Wall Street Zen upgraded Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Icahn Enterprises in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Icahn Enterprises Stock Up 0.9%

The company’s fifty day simple moving average is $7.75 and its 200-day simple moving average is $8.21. The firm has a market capitalization of $4.86 billion, a PE ratio of -10.24 and a beta of 0.84. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.24 and a quick ratio of 4.24.

Institutional Investors Weigh In On Icahn Enterprises

Several institutional investors have recently added to or reduced their stakes in IEP. Caz Investments LP increased its holdings in shares of Icahn Enterprises by 12.5% during the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after acquiring an additional 1,254 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Icahn Enterprises by 5.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 24,086 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 1,318 shares during the last quarter. Meridian Wealth Management LLC increased its stake in Icahn Enterprises by 6.1% during the 3rd quarter. Meridian Wealth Management LLC now owns 25,342 shares of the conglomerate’s stock valued at $213,000 after purchasing an additional 1,454 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Icahn Enterprises by 12.7% in the fourth quarter. Merit Financial Group LLC now owns 13,021 shares of the conglomerate’s stock worth $98,000 after buying an additional 1,464 shares during the last quarter. Finally, United Advisor Group LLC lifted its stake in shares of Icahn Enterprises by 5.2% during the second quarter. United Advisor Group LLC now owns 29,849 shares of the conglomerate’s stock worth $240,000 after buying an additional 1,483 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.