Bridgford Foods (NASDAQ:BRID) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of Bridgford Foods Corporation (NASDAQ:BRIDGet Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.31 and traded as low as $7.64. Bridgford Foods shares last traded at $7.76, with a volume of 2,987 shares.

Bridgford Foods Price Performance

The company has a market capitalization of $70.42 million, a price-to-earnings ratio of -9.46 and a beta of -0.24. The firm has a fifty day simple moving average of $7.89 and a 200 day simple moving average of $9.31.

Bridgford Foods (NASDAQ:BRIDGet Free Report) last announced its earnings results on Monday, June 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter. The business had revenue of $50.64 million for the quarter. Bridgford Foods had a negative net margin of 3.29% and a negative return on equity of 5.86%.

Hedge Funds Weigh In On Bridgford Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRID. Factorial Partners LLC increased its stake in shares of Bridgford Foods by 13.8% during the fourth quarter. Factorial Partners LLC now owns 25,017 shares of the company’s stock worth $263,000 after purchasing an additional 3,037 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Bridgford Foods in the 4th quarter worth about $124,000. Northern Trust Corp increased its stake in Bridgford Foods by 28.6% during the 4th quarter. Northern Trust Corp now owns 31,913 shares of the company’s stock worth $343,000 after buying an additional 7,093 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Bridgford Foods during the first quarter valued at approximately $570,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Bridgford Foods Company Profile

(Get Free Report)

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.

Further Reading

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