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

Manitex International, Inc. (NASDAQ:MNTX)’s stock price passed 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 traded.

Analysts Set New Price Targets

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

Manitex International Trading 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 firm has a market capitalization of $118.30 million, a PE ratio of 12.61 and a beta of 0.77. The stock’s 50-day moving average price is $5.78 and its 200 day moving average price is $5.33.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The company had revenue of $66.54 million during the quarter, compared to the consensus estimate of $69.97 million. Manitex International had a net margin of 3.19% and a return on equity of 16.60%. On average, sell-side analysts expect that Manitex International, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Manitex International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTX. Raymond James Financial Inc. acquired a new stake in shares of Manitex International during the 4th quarter worth approximately $74,000. VisionPoint Advisory Group LLC purchased a new stake in Manitex International during the fourth quarter worth $67,000. ABC Arbitrage SA acquired a new stake in Manitex International during the fourth quarter valued at $609,000. Trium Capital LLP purchased a new position in Manitex International in the fourth quarter valued at $1,626,000. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Manitex International in the third quarter worth about $69,000. 46.01% of the stock is owned by institutional investors and hedge funds.

About Manitex International

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.