Natuzzi (NYSE:NTZ) Announces Earnings Results

Natuzzi (NYSE:NTZ) released its quarterly earnings results on Wednesday. The company reported ($0.46) earnings per share for the quarter, FiscalAI reports. Natuzzi had a negative return on equity of 76.40% and a negative net margin of 9.71%.The firm had revenue of $68.87 million during the quarter.

Natuzzi Price Performance

Shares of NYSE NTZ remained flat at $1.34 during midday trading on Thursday. The stock had a trading volume of 354 shares, compared to its average volume of 3,131. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $2.57. Natuzzi has a 52 week low of $1.21 and a 52 week high of $4.06.

Institutional Investors Weigh In On Natuzzi

Hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Natuzzi during the 1st quarter valued at about $1,817,000. Kanen Wealth Management LLC lifted its position in shares of Natuzzi by 5.8% in the 1st quarter. Kanen Wealth Management LLC now owns 1,763,136 shares of the company’s stock worth $8,657,000 after purchasing an additional 96,890 shares during the period. Benjamin Edwards Inc. increased its position in shares of Natuzzi by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 178,000 shares of the company’s stock valued at $648,000 after buying an additional 38,350 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of Natuzzi in the 3rd quarter worth approximately $36,000. Institutional investors own 6.07% of the company’s stock.

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.