Bassett Furniture Industries (NASDAQ:BSET) Stock Price Passes Below Two Hundred Day Moving Average of $15.04

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.04 and traded as low as $13.76. Bassett Furniture Industries shares last traded at $14.05, with a volume of 19,302 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Bassett Furniture Industries Stock Performance

The firm has a 50 day simple moving average of $14.02 and a two-hundred day simple moving average of $15.04. The firm has a market capitalization of $124.06 million, a P/E ratio of -20.97, a PEG ratio of 3.83 and a beta of 1.68.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, April 3rd. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.15). Bassett Furniture Industries had a negative net margin of 1.57% and a negative return on equity of 0.64%. The company had revenue of $86.55 million for the quarter, compared to the consensus estimate of $91.48 million. Sell-side analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of hedge funds have recently made changes to their positions in BSET. Barclays PLC increased its holdings in Bassett Furniture Industries by 42.6% in the 3rd quarter. Barclays PLC now owns 9,502 shares of the company’s stock worth $140,000 after acquiring an additional 2,837 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Bassett Furniture Industries by 177.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,842 shares of the company’s stock worth $657,000 after acquiring an additional 28,679 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Bassett Furniture Industries in the 4th quarter worth about $218,000. Assenagon Asset Management S.A. purchased a new stake in Bassett Furniture Industries in the 1st quarter worth about $224,000. Finally, Empowered Funds LLC increased its holdings in Bassett Furniture Industries by 7.5% in the 1st quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after acquiring an additional 1,575 shares during the last quarter. 54.40% of the stock is currently owned by institutional investors.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.