Duluth (NASDAQ:DLTH) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Shares of Duluth Holdings Inc (NASDAQ:DLTH) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.53 and traded as low as $2.90. Duluth shares last traded at $3.09, with a volume of 95,755 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on DLTH shares. StockNews.com cut Duluth from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their price target on shares of Duluth from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Friday, December 6th.

Duluth Price Performance

The stock has a market cap of $98.30 million, a price-to-earnings ratio of -3.12 and a beta of 1.33. The company has a quick ratio of 0.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $3.53 and its 200-day moving average is $3.65.

Institutional Trading of Duluth

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Duluth by 142.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 229,151 shares of the company’s stock worth $862,000 after acquiring an additional 134,520 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Duluth in the 2nd quarter worth about $226,000. GSA Capital Partners LLP increased its position in shares of Duluth by 288.9% during the 3rd quarter. GSA Capital Partners LLP now owns 104,763 shares of the company’s stock worth $394,000 after purchasing an additional 77,825 shares in the last quarter. Empowered Funds LLC lifted its holdings in Duluth by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 88,391 shares of the company’s stock valued at $332,000 after purchasing an additional 4,422 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Duluth by 301.7% in the third quarter. International Assets Investment Management LLC now owns 41,172 shares of the company’s stock valued at $155,000 after buying an additional 30,922 shares in the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Duluth Company Profile

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.