Natuzzi, S.p.A. (NYSE:NTZ) Sees Large Drop in Short Interest

Natuzzi, S.p.A. (NYSE:NTZ) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 1,655 shares, a drop of 58.5% from the December 15th total of 3,987 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 13,718 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 13,718 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Natuzzi in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Natuzzi Stock Performance

Shares of NYSE:NTZ traded down $0.02 on Friday, hitting $3.01. 523 shares of the company were exchanged, compared to its average volume of 17,090. The company’s 50 day moving average price is $2.62 and its two-hundred day moving average price is $2.91. Natuzzi has a one year low of $2.15 and a one year high of $5.50.

Natuzzi (NYSE:NTZ) last released its earnings results on Thursday, November 20th. The company reported ($0.64) earnings per share for the quarter. Natuzzi had a negative return on equity of 38.57% and a negative net margin of 6.12%.The firm had revenue of $92.29 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new stake in Natuzzi in the 3rd quarter valued at $36,000. Kanen Wealth Management LLC boosted its position in shares of Natuzzi by 1.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 1,791,446 shares of the company’s stock valued at $6,521,000 after acquiring an additional 28,310 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Natuzzi by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after acquiring an additional 38,350 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Natuzzi in the first quarter valued at about $1,817,000. 6.07% of the stock is owned by institutional investors.

Natuzzi Company Profile

Natuzzi S.p.A. is a global design and manufacturing company specializing in high-quality upholstered furniture. The company’s product portfolio includes leather and fabric sofas, armchairs, recliners, sectional systems and complementary home furnishings such as coffee tables, beds and accessories. Natuzzi markets its offerings under two primary brands—Natuzzi Italia, which focuses on contemporary Italian design, and Natuzzi Editions, which provides a broader range of styles at accessible price points.

Founded in 1959 by Pasquale Natuzzi in Santeramo in Colle, Italy, the company began as a small artisan workshop and has grown into the world’s largest producer of leather upholstered furniture.