OneWater Marine (NASDAQ:ONEW) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Shares of OneWater Marine Inc. (NASDAQ:ONEW) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $10.22 and traded as high as $10.61. OneWater Marine shares last traded at $10.31, with a volume of 162,738 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial reduced their price target on shares of OneWater Marine from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Weiss Ratings raised shares of OneWater Marine from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.00.

OneWater Marine Stock Up 7.0%

The business has a fifty day moving average of $10.22 and a 200 day moving average of $11.10. The stock has a market cap of $171.87 million, a price-to-earnings ratio of -1.38 and a beta of 1.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.22 and a quick ratio of 0.34.

Institutional Trading of OneWater Marine

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of OneWater Marine by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 514,606 shares of the company’s stock worth $4,863,000 after purchasing an additional 30,280 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of OneWater Marine by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 50,338 shares of the company’s stock valued at $476,000 after purchasing an additional 24,442 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of OneWater Marine in the 1st quarter valued at $113,000. Sei Investments Co. lifted its stake in shares of OneWater Marine by 83.8% in the 1st quarter. Sei Investments Co. now owns 26,978 shares of the company’s stock valued at $255,000 after purchasing an additional 12,300 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in OneWater Marine by 9.5% in the first quarter. Empowered Funds LLC now owns 52,126 shares of the company’s stock worth $493,000 after purchasing an additional 4,501 shares in the last quarter. 94.32% of the stock is owned by institutional investors.

About OneWater Marine

OneWater Marine Inc (NASDAQ: ONEW) is a recreational boat retailer and marine services company. The company operates a network of dealerships in the United States that sells new and pre-owned boats, including freshwater, saltwater, and specialty vessels from a range of manufacturers and brands.

In addition to boat sales, OneWater Marine provides related products and services such as marine parts and accessories, maintenance and repair, storage, financing, insurance, and other boating services.