Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.21 and traded as high as $10.83. Hooker Furnishings shares last traded at $10.41, with a volume of 14,110 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on HOFT. Zacks Research cut Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Hooker Furnishings presently has an average rating of “Sell”.

Hooker Furnishings Price Performance

The stock has a market cap of $111.91 million, a P/E ratio of -8.60 and a beta of 1.41. The company has a quick ratio of 1.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $9.80 and its two-hundred day simple moving average is $10.21.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, September 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.19). The firm had revenue of $82.15 million for the quarter, compared to analysts’ expectations of $91.21 million. Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.17%. During the same period in the prior year, the firm posted ($0.19) EPS. Sell-side analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Institutional Trading of Hooker Furnishings

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Hooker Furnishings by 61.2% in the 3rd quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock worth $154,000 after purchasing an additional 5,740 shares during the period. Two Sigma Investments LP boosted its stake in shares of Hooker Furnishings by 155.8% during the third quarter. Two Sigma Investments LP now owns 44,264 shares of the company’s stock valued at $449,000 after purchasing an additional 26,963 shares during the period. Squarepoint Ops LLC bought a new position in shares of Hooker Furnishings in the third quarter worth approximately $253,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Hooker Furnishings in the third quarter worth $247,000. Finally, First Eagle Investment Management LLC raised its holdings in Hooker Furnishings by 15.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company’s stock valued at $3,704,000 after buying an additional 47,559 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.