Manitex International (NASDAQ:MNTX) Shares Pass Above 200-Day Moving Average – Here’s Why

Manitex International, Inc. (NASDAQ:MNTX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.33 and traded as high as $5.81. Manitex International shares last traded at $5.80, with a volume of 216,900 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Manitex International in a report on Thursday, January 30th. They issued a “hold” rating on the stock.

Manitex International Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 0.66. The business has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $5.33. The company has a market capitalization of $118.30 million, a price-to-earnings ratio of 12.61 and a beta of 0.77.

Manitex International (NASDAQ:MNTX) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Manitex International had a return on equity of 16.60% and a net margin of 3.19%. The firm had revenue of $66.54 million during the quarter, compared to analyst estimates of $69.97 million. As a group, equities analysts predict that Manitex International, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MNTX. Geode Capital Management LLC raised its position in shares of Manitex International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 164,868 shares of the industrial products company’s stock worth $928,000 after acquiring an additional 3,601 shares in the last quarter. Empowered Funds LLC acquired a new stake in Manitex International during the third quarter worth approximately $480,000. Marshall Wace LLP purchased a new position in shares of Manitex International in the 2nd quarter valued at $128,000. De Lisle Partners LLP raised its stake in Manitex International by 359.3% during the 3rd quarter. De Lisle Partners LLP now owns 1,202,466 shares of the industrial products company’s stock worth $6,776,000 after acquiring an additional 940,670 shares in the last quarter. Finally, Trium Capital LLP acquired a new stake in Manitex International during the 4th quarter worth $1,626,000. 46.01% of the stock is owned by institutional investors and hedge funds.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.