OneWater Marine (NASDAQ:ONEW) Stock Crosses Below 50-Day Moving Average – Should You Sell?

OneWater Marine Inc. (NASDAQ:ONEW) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $9.99 and traded as low as $9.85. OneWater Marine shares last traded at $9.90, with a volume of 70,163 shares changing hands.

Analysts Set New Price Targets

ONEW has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of OneWater Marine in a research report on Wednesday, November 4th. Truist Financial dropped their target price on shares of OneWater Marine from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.00.

OneWater Marine Price Performance

The firm has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $10.98. The company has a market capitalization of $164.99 million, a PE ratio of -1.33 and a beta of 1.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.34 and a current ratio of 1.22.

Hedge Funds Weigh In On OneWater Marine

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of OneWater Marine during the third quarter valued at $28,000. Global Retirement Partners LLC purchased a new stake in OneWater Marine in the third quarter worth about $66,000. Hsbc Holdings PLC purchased a new stake in OneWater Marine in the first quarter worth about $113,000. Sei Investments Co. lifted its stake in OneWater Marine by 83.8% in the first quarter. Sei Investments Co. now owns 26,978 shares of the company’s stock worth $255,000 after acquiring an additional 12,300 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in OneWater Marine by 94.4% during the 1st quarter. Quantinno Capital Management LP now owns 50,338 shares of the company’s stock worth $476,000 after acquiring an additional 24,442 shares in the last quarter. Institutional investors own 94.32% of the company’s stock.

OneWater Marine Company Profile

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. Its dealerships also support customers with boat brokerage, trade-ins, and after-sale service.