Bridgford Foods (NASDAQ:BRID) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Bridgford Foods Corporation (NASDAQ:BRID)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.31 and traded as low as $7.64. Bridgford Foods shares last traded at $7.76, with a volume of 2,987 shares.

Bridgford Foods Price Performance

The stock has a fifty day moving average of $7.89 and a 200 day moving average of $9.31. The stock has a market cap of $70.42 million, a price-to-earnings ratio of -9.46 and a beta of -0.24.

Bridgford Foods (NASDAQ:BRID) last posted its quarterly earnings results on Monday, June 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter. The business had revenue of $50.64 million for the quarter. Bridgford Foods had a negative return on equity of 5.86% and a negative net margin of 3.29%.

Institutional Investors Weigh In On Bridgford Foods

Several hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in shares of Bridgford Foods by 28.6% during the 4th quarter. Northern Trust Corp now owns 31,913 shares of the company’s stock worth $343,000 after purchasing an additional 7,093 shares during the period. Renaissance Technologies LLC acquired a new stake in Bridgford Foods during the fourth quarter valued at $124,000. Factorial Partners LLC increased its holdings in Bridgford Foods by 13.8% in the fourth quarter. Factorial Partners LLC now owns 25,017 shares of the company’s stock valued at $263,000 after buying an additional 3,037 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Bridgford Foods in the first quarter valued at $570,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

About Bridgford Foods

Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen and snack food products in the United States. It operates in two segments, Frozen Food Products and Snack Food Products. The company offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products, as well as ready to eat sandwiches and non-refrigerated snack food products.